Key Points
- Insider buying: Target Hospitality insider Troy Schrenk purchased 5,907 shares for approximately $124,992, increasing his stake by 2.8% to 216,995 shares.
- Quarterly performance: The company reported a quarterly loss of $0.09 per share, beating estimates by $0.02, while revenue of $85.45 million exceeded expectations of $79.30 million.
- Analyst outlook: Target Hospitality has a “Moderate Buy” consensus rating and an average price target of $25.20, above its reported trading price near $21.19.
Target Hospitality Corp. (NASDAQ:TH - Get Free Report) insider Troy Schrenk acquired 5,907 shares of the stock in a transaction dated Friday, September 18th. The shares were bought at an average cost of $21.16 per share, with a total value of $124,992.12. Following the completion of the transaction, the insider owned 216,995 shares of the company's stock, valued at approximately $4,591,614.20. This represents a 2.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Target Hospitality Stock Up 2.1%
TH stock opened at $21.19 on Friday. The company's 50 day moving average price is $17.40 and its 200 day moving average price is $15.88. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -55.76 and a beta of 1.51. Target Hospitality Corp. has a fifty-two week low of $5.97 and a fifty-two week high of $21.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65.
Target Hospitality (NASDAQ:TH - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. The company had revenue of $85.45 million during the quarter, compared to the consensus estimate of $79.30 million. On average, equities research analysts anticipate that Target Hospitality Corp. will post -0.05 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $23.00 target price on shares of Target Hospitality in a research note on Thursday, August 27th. Northland Securities set a $25.00 price objective on Target Hospitality in a report on Thursday, August 27th. Weiss Ratings raised Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Morgan Stanley boosted their price target on shares of Target Hospitality from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, September 14th. Finally, Stifel Nicolaus set a $26.00 price objective on Target Hospitality in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Target Hospitality presently has an average rating of "Moderate Buy" and a consensus target price of $25.20.
View Our Latest Stock Analysis on Target Hospitality
Institutional Trading of Target Hospitality
Several hedge funds have recently modified their holdings of TH. BlackRock Inc. purchased a new stake in shares of Target Hospitality in the second quarter valued at approximately $64,312,000. HighTower Advisors LLC boosted its position in shares of Target Hospitality by 14.9% during the 2nd quarter. HighTower Advisors LLC now owns 1,842,267 shares of the company's stock worth $37,509,000 after purchasing an additional 238,280 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Target Hospitality by 21.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company's stock worth $13,259,000 after purchasing an additional 252,212 shares in the last quarter. Senator Investment Group LP acquired a new position in shares of Target Hospitality during the 2nd quarter worth $28,491,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Target Hospitality by 15.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company's stock valued at $10,032,000 after purchasing an additional 147,950 shares in the last quarter. 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
