Hsbc Holdings PLC Purchases Shares of 75,108 Target Hospitality Corp. $TH

Key Points

• Hsbc Holdings PLC acquired 75,108 shares of Target Hospitality during the second quarter, worth approximately $1.5 million and representing about 0.07% of the company. Institutional investors collectively own 32.4% of Target Hospitality.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $24.00. Recent targets range from $22 to $26, while Deutsche Bank reiterated its $23 buy target.
• Target Hospitality reported quarterly revenue of $85.45 million, exceeding estimates of $79.30 million, and an adjusted loss of $0.09 per share that was better than expectations. Shares opened at $18.52, compared with a 52-week range of $5.97 to $20.85.

Hsbc Holdings PLC acquired a new stake in Target Hospitality Corp. (NASDAQ:TH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75,108 shares of the company's stock, valued at approximately $1,506,000. Hsbc Holdings PLC owned approximately 0.07% of Target Hospitality as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PDT Partners LLC purchased a new position in shares of Target Hospitality during the second quarter valued at about $518,000. Galaxy Digital Capital Management GP LLC purchased a new position in Target Hospitality in the second quarter worth about $195,000. Nicholas Investment Partners LP purchased a new position in Target Hospitality during the second quarter worth $5,489,000. Legal & General Group Plc purchased a new position in Target Hospitality during the second quarter worth $1,476,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Target Hospitality in the second quarter worth about $240,000. Institutional investors own 32.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $23.00 price target on shares of Target Hospitality in a report on Thursday. Morgan Stanley assumed coverage on Target Hospitality in a report on Monday, August 17th. They set an "overweight" rating and a $22.00 price objective for the company. Stifel Nicolaus set a $26.00 price objective on Target Hospitality in a research report on Thursday. Northland Securities set a $25.00 target price on Target Hospitality in a research note on Thursday. Finally, Oppenheimer increased their target price on Target Hospitality from $21.00 to $24.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Target Hospitality has a consensus rating of "Moderate Buy" and an average price target of $24.00.

Target Hospitality Stock Performance

Shares of NASDAQ:TH opened at $18.52 on Tuesday. The firm has a market cap of $1.84 billion, a PE ratio of -48.74 and a beta of 1.50. The firm's 50 day simple moving average is $17.38 and its 200-day simple moving average is $14.74. Target Hospitality Corp. has a one year low of $5.97 and a one year high of $20.85. 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 (NASDAQ:TH - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.09) earnings per share 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 during the quarter, compared to the consensus estimate of $79.30 million. As a group, equities analysts predict that Target Hospitality Corp. will post -0.08 EPS for the current year.

Target Hospitality 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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