Target Hospitality Corp. $TH Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Target Hospitality stake by 340.9% in the first quarter, ending with 131,198 shares valued at approximately $1.22 million. Institutional investors and hedge funds collectively own 32.4% of the company.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $24.00. Recent targets range from $22.00 to $26.00, while Morgan Stanley initiated coverage with an “overweight” rating.
• Target Hospitality shares recently traded up 5.3% to $19.52, near their 12-month high of $20.85. The company beat quarterly revenue and adjusted EPS expectations, reporting $85.45 million in revenue and a loss of $0.09 per share.

Bank of America Corp DE lifted its stake in Target Hospitality Corp. (NASDAQ:TH - Free Report) by 340.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 131,198 shares of the company's stock after purchasing an additional 101,440 shares during the quarter. Bank of America Corp DE owned about 0.13% of Target Hospitality worth $1,218,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Rubric Capital Management LP lifted its position in Target Hospitality by 9.5% during the second quarter. Rubric Capital Management LP now owns 2,189,456 shares of the company's stock valued at $15,589,000 after purchasing an additional 189,456 shares during the period. Vanguard Group Inc. grew its position in Target Hospitality by 43.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,994,641 shares of the company's stock worth $16,915,000 after purchasing an additional 600,181 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Target Hospitality by 21.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company's stock valued at $13,259,000 after buying an additional 252,212 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Target Hospitality by 15.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company's stock valued at $10,032,000 after buying an additional 147,950 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Target Hospitality by 4.5% in the 1st quarter. Renaissance Technologies LLC now owns 951,302 shares of the company's stock valued at $8,828,000 after buying an additional 40,878 shares during the period. 32.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TH has been the topic of several analyst reports. Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a research report on Thursday, August 27th. Weiss Ratings upgraded shares of Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $23.00 price target on shares of Target Hospitality in a research report on Thursday, August 27th. Northland Securities set a $25.00 price objective on Target Hospitality in a report on Thursday, August 27th. Finally, Morgan Stanley began coverage on shares of Target Hospitality in a research report on Monday, August 17th. They issued an "overweight" rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Target Hospitality Trading Up 5.3%

NASDAQ:TH opened at $19.52 on Friday. Target Hospitality Corp. has a 12-month low of $5.97 and a 12-month high of $20.85. The firm has a market cap of $1.94 billion, a PE ratio of -51.37 and a beta of 1.51. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $17.25 and a 200 day moving average price of $15.01.

Target Hospitality (NASDAQ:TH - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $85.45 million for the quarter, compared to the consensus estimate of $79.30 million. Sell-side analysts anticipate that Target Hospitality Corp. will post -0.08 earnings per share for the current fiscal 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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