Target Hospitality Corp. (NYSE:TH) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $12.40.
TH has been the subject of several recent analyst reports. Northland Securities reaffirmed a “buy” rating and issued a $12.00 target price on shares of Target Hospitality in a research note on Tuesday, September 3rd. Zacks Investment Research downgraded Target Hospitality from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Oppenheimer downgraded Target Hospitality from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 19th.
Shares of Target Hospitality stock opened at $4.79 on Monday. Target Hospitality has a 1 year low of $3.80 and a 1 year high of $12.11. The business has a 50 day moving average price of $5.13 and a 200 day moving average price of $7.39.
Target Hospitality (NYSE:TH) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $81.64 million for the quarter, compared to analyst estimates of $86.39 million.
In related news, insider Troy C. Schrenk bought 8,972 shares of the stock in a transaction dated Tuesday, November 26th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $42,617.00. Also, Director Andrew P. Studdert bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $4.82 per share, for a total transaction of $96,400.00. Following the completion of the acquisition, the director now owns 70,000 shares in the company, valued at approximately $337,400. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 49,130 shares of company stock valued at $227,469.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new stake in Target Hospitality during the 2nd quarter worth approximately $25,000. Metropolitan Life Insurance Co NY acquired a new stake in Target Hospitality during the third quarter worth about $49,000. Strs Ohio acquired a new stake in Target Hospitality during the second quarter worth about $80,000. California Public Employees Retirement System bought a new position in Target Hospitality in the third quarter worth about $70,000. Finally, JPMorgan Chase & Co. lifted its holdings in Target Hospitality by 885.8% in the second quarter. JPMorgan Chase & Co. now owns 11,830 shares of the company’s stock worth $107,000 after acquiring an additional 10,630 shares during the last quarter.
About Target Hospitality
Target Hospitality Corp., through its subsidiaries, provides specialty rental accommodations with catering and value-added hospitality services in the United States. The company was formerly known as Platinum Eagle Acquisition Corp. and changed its name to Target Hospitality Corp. in March 2019. The company is headquartered in The Woodlands, Texas.
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