HighTower Advisors LLC Raises Stock Position in Target Hospitality Corp. $TH

Key Points

• HighTower Advisors increased its Target Hospitality stake by 14.9% in the second quarter to 1.84 million shares, worth approximately $37.5 million. Institutional investors and hedge funds collectively own 32.4% of the company.
• Target Hospitality reported quarterly revenue of $85.45 million, exceeding analysts’ $79.30 million estimate, while its loss of $0.09 per share was narrower than expected. Shares opened at $20.25 and are up 3.7%.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus rating and an average price target of $24.60; recent targets range from $22 to $26.

HighTower Advisors LLC grew its stake in shares of Target Hospitality Corp. (NASDAQ:TH - Free Report) by 14.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,842,267 shares of the company's stock after acquiring an additional 238,280 shares during the period. HighTower Advisors LLC owned about 1.85% of Target Hospitality worth $37,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TH. California State Teachers Retirement System raised its stake in shares of Target Hospitality by 2,633.4% during the 2nd quarter. California State Teachers Retirement System now owns 876,498 shares of the company's stock worth $17,845,000 after buying an additional 844,432 shares during the last quarter. AXQ Capital LP purchased a new position in Target Hospitality during the second quarter worth $471,000. Senator Investment Group LP acquired a new position in shares of Target Hospitality in the second quarter worth $28,491,000. Moore Capital Management LP purchased a new stake in Target Hospitality during the 2nd quarter worth about $509,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Target Hospitality by 2.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,692 shares of the company's stock valued at $2,132,000 after purchasing an additional 2,634 shares during the last quarter. Institutional investors and hedge funds own 32.40% of the company's stock.

Target Hospitality Stock Up 3.7%

Shares of NASDAQ:TH opened at $20.25 on Wednesday. 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 Corp. has a 1 year low of $5.97 and a 1 year high of $20.85. The stock has a market capitalization of $2.02 billion, a P/E ratio of -53.29 and a beta of 1.51. The stock has a 50-day simple moving average of $17.23 and a 200-day simple moving average of $15.25.

Target Hospitality (NASDAQ:TH - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $85.45 million for the quarter, compared to analyst estimates of $79.30 million. Equities analysts forecast that Target Hospitality Corp. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on TH. Morgan Stanley started coverage on shares of Target Hospitality in a research note on Monday, August 17th. They set an "overweight" rating and a $22.00 price target on the stock. Weiss Ratings raised shares of Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. Northland Securities set a $25.00 price objective on Target Hospitality in a report on Thursday, August 27th. Stifel Nicolaus set a $26.00 price objective on Target Hospitality in a research report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $23.00 target price on shares of Target Hospitality in a research report on Thursday, August 27th. One 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.60.

Target Hospitality Company Profile

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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