Target Hospitality Corp. $TH Shares Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Target Hospitality stake by 15.9% in the first quarter, acquiring 147,950 additional shares for a total of 1.08 million shares valued at approximately $10.0 million. Institutional investors collectively own 32.4% of the company.
• Analyst sentiment remains broadly positive, with Target Hospitality receiving a consensus “Moderate Buy” rating and an average price target of $20.33. Stifel Nicolaus and Oppenheimer recently raised their price targets to $15 and $24, respectively.
• Target Hospitality shares opened at $15.20, up 4.8%, while the company’s latest quarterly results fell slightly short of expectations: an adjusted loss of $0.13 per share versus estimates of $0.11 and revenue of $72.78 million versus $73.20 million expected.

Arrowstreet Capital Limited Partnership increased its position in shares of Target Hospitality Corp. (NASDAQ:TH - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,081,081 shares of the company's stock after acquiring an additional 147,950 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.08% of Target Hospitality worth $10,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc grew its position in Target Hospitality by 88.0% in the third quarter. IFP Advisors Inc now owns 4,002 shares of the company's stock worth $35,000 after acquiring an additional 1,873 shares during the period. Russell Investments Group Ltd. increased its stake in Target Hospitality by 121.5% during the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company's stock worth $38,000 after acquiring an additional 2,465 shares during the last quarter. Tripletail Wealth Management LLC raised its position 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 purchasing an additional 4,460 shares during the period. AdvisorShares Investments LLC raised its position in Target Hospitality by 17.9% in the fourth quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company's stock valued at $95,000 after purchasing an additional 1,798 shares during the period. Finally, FourThought Financial Partners LLC acquired a new position in shares of Target Hospitality in the 3rd quarter valued at $95,000. Hedge funds and other institutional investors own 32.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TH shares. Stifel Nicolaus reaffirmed a "buy" rating and issued a $15.00 price objective (up from $11.00) on shares of Target Hospitality in a research note on Monday, April 6th. Weiss Ratings raised Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 23rd. 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. Wall Street Zen upgraded Target Hospitality from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Target Hospitality in a research report on Monday, June 1st. They issued a "hold" rating and a $22.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Target Hospitality has a consensus rating of "Moderate Buy" and an average price target of $20.33.

Target Hospitality Stock Up 4.8%

Shares of NASDAQ TH opened at $15.20 on Friday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -34.55 and a beta of 1.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $17.76 and a two-hundred day moving average of $13.27. 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 issued its quarterly earnings data on Monday, May 11th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $72.78 million for the quarter, compared to analysts' expectations of $73.20 million. Target Hospitality had a negative return on equity of 11.11% and a negative net margin of 13.47%. On average, analysts forecast that Target Hospitality Corp. will post -0.19 earnings per share for the current fiscal year.

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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