BlackRock Inc. Buys New Position in Target Hospitality Corp. $TH

Key Points

• BlackRock acquired 3,158,745 shares of Target Hospitality in the second quarter, valued at about $64.3 million and representing a 3.15% stake. Institutional investors collectively own 32.4% of the company.
• Target Hospitality reported quarterly revenue of $85.45 million and an adjusted loss of $0.09 per share, outperforming analyst expectations, though it posted a negative net margin and return on equity.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $24, compared with the stock’s reported price of $18.55.

BlackRock Inc. bought a new stake in Target Hospitality Corp. (NASDAQ:TH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,158,745 shares of the company's stock, valued at approximately $64,312,000. BlackRock Inc. owned 3.15% of Target Hospitality as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TH. IFP Advisors Inc lifted its holdings in shares of Target Hospitality by 88.0% in the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company's stock worth $35,000 after purchasing an additional 1,873 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Target Hospitality by 121.5% in the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company's stock valued at $38,000 after acquiring an additional 2,465 shares in the last quarter. Galaxy Digital Capital Management GP LLC bought a new stake in shares of Target Hospitality during the 1st quarter worth $67,000. Tripletail Wealth Management LLC boosted its stake in Target Hospitality by 62.2% in the fourth quarter. Tripletail Wealth Management LLC now owns 11,630 shares of the company's stock valued at $93,000 after acquiring an additional 4,460 shares during the last quarter. Finally, AdvisorShares Investments LLC increased its holdings in Target Hospitality by 17.9% in the 4th quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company's stock worth $95,000 after acquiring an additional 1,798 shares during the last quarter. 32.40% of the stock is currently owned by institutional investors.

Target Hospitality Price Performance

TH opened at $18.55 on Monday. The stock's 50 day simple moving average is $17.42 and its 200 day simple moving average is $14.66. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -48.82 and a beta of 1.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.65 and a quick ratio of 0.65. 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 results 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. The company had revenue of $85.45 million for the quarter, compared to analysts' expectations of $79.30 million. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. As a group, analysts predict that Target Hospitality Corp. will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

TH has been the subject of several analyst reports. Stifel Nicolaus set a $26.00 target price on Target Hospitality in a research note on Thursday. Northland Securities set a $25.00 price target on shares of Target Hospitality in a research report on Thursday. Morgan Stanley initiated coverage on Target Hospitality in a research report on Monday, August 17th. They set an "overweight" rating and a $22.00 target price for the company. Weiss Ratings upgraded Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $23.00 price objective on shares of Target Hospitality in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

About Target Hospitality

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.

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