Troy Schrenk Buys 5,907 Shares of Target Hospitality (NASDAQ:TH) Stock

Key Points

• Insider purchase: Troy Schrenk bought 5,907 Target Hospitality shares at an average price of $21.16, investing approximately $124,992 and increasing his stake by 2.8% to 216,995 shares.
• Shares near 52-week high: Target Hospitality stock rose 2.1% to $21.19, close to its $21.42 52-week high, with trading volume significantly above its average.
• Mixed fundamentals, positive analyst view: The company exceeded quarterly revenue and adjusted its EPS loss better than expected, while analysts maintained a “Moderate Buy” consensus with an average price target of $25.20.

Target Hospitality Corp. (NASDAQ:TH - Get Free Report) insider Troy Schrenk bought 5,907 shares of the stock in a transaction dated Friday, September 18th. The stock was bought at an average price of $21.16 per share, with a total value of $124,992.12. Following the acquisition, the insider owned 216,995 shares in the company, valued at approximately $4,591,614.20. This represents a 2.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Target Hospitality Stock Up 2.1%

Shares of NASDAQ TH traded up $0.43 during mid-day trading on Friday, reaching $21.19. The company had a trading volume of 4,948,408 shares, compared to its average volume of 1,180,592. The firm has a 50 day simple moving average of $17.34 and a two-hundred day simple moving average of $15.84. Target Hospitality Corp. has a 52-week low of $5.97 and a 52-week high of $21.42. 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 market cap of $2.11 billion, a P/E ratio of -55.76 and a beta of 1.51.

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 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 firm had revenue of $85.45 million during the quarter, compared to analysts' expectations of $79.30 million. Sell-side analysts predict that Target Hospitality Corp. will post -0.05 earnings per share for the current year.

Institutional Trading of Target Hospitality

Several hedge funds have recently made changes to their positions in TH. BlackRock Inc. purchased a new stake in shares of Target Hospitality in the second quarter valued at about $64,312,000. HighTower Advisors LLC raised its holdings in Target Hospitality by 14.9% during the second quarter. HighTower Advisors LLC now owns 1,842,267 shares of the company's stock worth $37,509,000 after purchasing an additional 238,280 shares in the last quarter. Senator Investment Group LP acquired a new stake in Target Hospitality in the second quarter valued at about $28,491,000. Dimensional Fund Advisors LP lifted its position in Target Hospitality by 21.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company's stock valued at $13,259,000 after purchasing an additional 252,212 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in 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 purchasing an additional 147,950 shares in the last quarter. Institutional investors and hedge funds own 32.40% of the company's stock.

Wall Street Analyst Weigh In

TH has been the subject of a number of research reports. Weiss Ratings upgraded Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $23.00 target price on shares of Target Hospitality in a report on Thursday, August 27th. Morgan Stanley upped their price target on shares of Target Hospitality from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday. Northland Securities set a $25.00 price target on shares of Target Hospitality in a research note on Thursday, August 27th. Finally, Oppenheimer raised their price objective on shares of Target Hospitality from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $25.20.

About Target Hospitality

Target Hospitality Corp. NASDAQ: TH provides specialty hospitality and workforce accommodation services in North America. The company supports organizations that require temporary or long-term housing and related services in remote, industrial, government, and other challenging operating environments.

Its offerings include modular and prefabricated accommodations, lodging management, food and catering services, housekeeping, maintenance, transportation, security, and other on-site support.

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