Key Points
- CEO James Bradley Archer purchased 13,385 Target Hospitality shares at an average price of $18.69, investing approximately $250,166. His direct ownership increased to 1.85 million shares, valued at about $34.5 million.
- Target Hospitality reported quarterly revenue of $85.45 million, exceeding expectations of $79.30 million, while its adjusted loss of $0.09 per share beat estimates by $0.02.
- Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $25.20, compared with its $18.76 opening price.
Target Hospitality Corp. (NASDAQ:TH - Get Free Report) CEO James Bradley Archer bought 13,385 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $18.69 per share, with a total value of $250,165.65. Following the completion of the purchase, the chief executive officer directly owned 1,845,441 shares in the company, valued at $34,491,292.29. This represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Target Hospitality Price Performance
Shares of NASDAQ TH opened at $18.76 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -49.37 and a beta of 1.51. The stock's 50-day moving average is $17.29 and its two-hundred day moving average is $15.75. Target Hospitality Corp. has a 1-year low of $5.97 and a 1-year high of $20.85.
Target Hospitality (NASDAQ:TH - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%.The business had revenue of $85.45 million during the quarter, compared to analysts' expectations of $79.30 million. Analysts forecast that Target Hospitality Corp. will post -0.05 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have commented on TH shares. Northland Securities set a $25.00 price target on shares of Target Hospitality in a report on Thursday, August 27th. Weiss Ratings upgraded shares of Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $23.00 price objective on shares of Target Hospitality in a research report on Thursday, August 27th. Stifel Nicolaus set a $26.00 target price on shares of Target Hospitality in a research note on Thursday, August 27th. Finally, Morgan Stanley increased their target price on Target Hospitality from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.20.
Check Out Our Latest Report on Target Hospitality
Hedge Funds Weigh In On Target Hospitality
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TH. BlackRock Inc. acquired a new stake in shares of Target Hospitality in the 2nd quarter valued at about $64,312,000. Senator Investment Group LP acquired a new position in Target Hospitality during the second quarter worth approximately $28,491,000. 71 West Capital Partners acquired a new position in Target Hospitality during the fourth quarter worth approximately $7,147,000. Bank of New York Mellon Corp purchased a new stake in Target Hospitality in the second quarter valued at approximately $8,140,000. Finally, Bank of America Corp DE purchased a new stake in Target Hospitality in the second quarter valued at approximately $7,142,000. 32.40% of the stock is owned by institutional investors and hedge funds.
About Target Hospitality
(
Get Free Report)
Target Hospitality Corp. (NASDAQ: TH) provides specialty hospitality and workforce accommodation services in North America. The company supports organizations that require temporary or long-term housing and related services in remote, industrial, government, and other challenging operating environments.
Its offerings include modular and prefabricated accommodations, lodging management, food and catering services, housekeeping, maintenance, transportation, security, and other on-site support.
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