Target Hospitality (NASDAQ:TH) Shares Gap Up to $7.41

Target Hospitality Corp. (NASDAQ:TH) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.41, but opened at $8.15. Target Hospitality shares last traded at $8.22, with a volume of 300,030 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on TH. Oppenheimer lowered their target price on Target Hospitality from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Monday, March 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $12.00 target price (down previously from $13.00) on shares of Target Hospitality in a report on Friday, April 12th.

Target Hospitality Price Performance

The stock has a 50-day simple moving average of $10.30 and a 200 day simple moving average of $9.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.78 and a current ratio of 2.78. The company has a market cap of $873.41 million, a P/E ratio of 6.40, a P/E/G ratio of 0.80 and a beta of 2.09.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. Target Hospitality had a return on equity of 41.41% and a net margin of 27.37%. The company had revenue of $106.70 million during the quarter, compared to the consensus estimate of $101.97 million. During the same quarter last year, the company earned $0.40 EPS. The company’s quarterly revenue was down 27.8% on a year-over-year basis. On average, equities analysts expect that Target Hospitality Corp. will post 0.62 EPS for the current year.

Hedge Funds Weigh In On Target Hospitality

Several hedge funds and other institutional investors have recently modified their holdings of TH. Naples Money Management LLC bought a new position in shares of Target Hospitality during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC increased its holdings in Target Hospitality by 664.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,849 shares of the company’s stock valued at $47,000 after purchasing an additional 4,215 shares in the last quarter. Denali Advisors LLC acquired a new stake in Target Hospitality during the 4th quarter valued at $91,000. Covestor Ltd increased its holdings in Target Hospitality by 13.9% during the 1st quarter. Covestor Ltd now owns 8,925 shares of the company’s stock valued at $97,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Simplicity Wealth LLC acquired a new stake in Target Hospitality during the 1st quarter valued at $122,000. Institutional investors own 32.40% of the company’s stock.

About Target Hospitality

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.