Target Hospitality Corp. (NASDAQ:TH - Get Free Report)'s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $6.13, but opened at $6.63. Target Hospitality shares last traded at $6.27, with a volume of 361,867 shares traded.
The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.06. Target Hospitality had a net margin of 20.84% and a return on equity of 22.80%. The firm had revenue of $83.70 million during the quarter, compared to the consensus estimate of $80.10 million. During the same period in the previous year, the firm earned $0.29 earnings per share. Target Hospitality's revenue was down 33.7% compared to the same quarter last year.
Wall Street Analysts Forecast Growth
Several research firms recently commented on TH. Stifel Nicolaus cut their price target on shares of Target Hospitality from $10.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. Northland Capmk upgraded Target Hospitality from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 29th. Finally, Northland Securities raised Target Hospitality from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $11.00 to $15.00 in a research report on Wednesday, January 29th.
Check Out Our Latest Report on Target Hospitality
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in shares of Target Hospitality by 48.5% in the 3rd quarter. Victory Capital Management Inc. now owns 37,504 shares of the company's stock valued at $292,000 after purchasing an additional 12,242 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Target Hospitality in the third quarter valued at $87,000. Charles Schwab Investment Management Inc. raised its holdings in Target Hospitality by 28.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 271,590 shares of the company's stock valued at $2,113,000 after acquiring an additional 60,569 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Target Hospitality by 154.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 83,708 shares of the company's stock valued at $651,000 after acquiring an additional 50,758 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Target Hospitality by 10.1% during the 3rd quarter. HighTower Advisors LLC now owns 1,466,356 shares of the company's stock worth $11,408,000 after acquiring an additional 134,966 shares in the last quarter. Hedge funds and other institutional investors own 32.40% of the company's stock.
Target Hospitality Trading Down 1.2 %
The company has a market cap of $656.97 million, a P/E ratio of 7.63, a P/E/G ratio of 1.81 and a beta of 2.15. The company's 50-day moving average price is $7.71 and its two-hundred day moving average price is $8.35.
Target Hospitality Company Profile
(
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Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services - South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.
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