Oppenheimer Raises Target Hospitality (NASDAQ:TH) Price Target to $24.00

Key Points

• Oppenheimer raised Target Hospitality’s price target from $21 to $24 and kept an outperform rating, implying about 43% upside from the current share price.
• Other analysts remain mixed: recent ratings include a mix of buy, hold, and sell calls, with MarketBeat showing a Moderate Buy consensus and an average target of $20.33.
• Target Hospitality shares were down 6.8% and the company recently reported a quarterly EPS and revenue miss, while institutional investors such as Vanguard and Dimensional Fund Advisors increased their holdings.

Target Hospitality (NASDAQ:TH - Get Free Report) had its target price hoisted by equities research analysts at Oppenheimer from $21.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective points to a potential upside of 43.37% from the stock's current price.

A number of other equities analysts also recently commented on TH. Wall Street Zen raised shares of Target Hospitality from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Stifel Nicolaus reissued a "buy" rating and issued a $15.00 price target (up from $11.00) on shares of Target Hospitality in a research note on Monday, April 6th. Weiss Ratings restated a "sell (d)" rating on shares of Target Hospitality in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Target Hospitality in a report on Monday, June 1st. They issued a "hold" rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.33.

Target Hospitality Stock Down 6.8%

Shares of NASDAQ:TH opened at $16.74 on Tuesday. Target Hospitality has a 52-week low of $5.97 and a 52-week high of $20.85. The stock has a market cap of $1.68 billion, a P/E ratio of -38.05 and a beta of 1.46. The business has a fifty day moving average of $18.12 and a two-hundred day moving average of $12.53. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08.

Target Hospitality (NASDAQ:TH - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.13) EPS 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, research analysts expect that Target Hospitality will post -0.19 earnings per share for the current year.

Institutional Trading of Target Hospitality

Institutional investors and hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP boosted its stake in shares of Target Hospitality by 9.5% in 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. increased its stake 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 buying an additional 600,181 shares during the period. Dimensional Fund Advisors LP increased its stake in Target Hospitality by 21.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company's stock worth $13,259,000 after buying an additional 252,212 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Target Hospitality by 15.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company's stock worth $10,032,000 after buying an additional 147,950 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Target Hospitality by 4.5% during the 1st quarter. Renaissance Technologies LLC now owns 951,302 shares of the company's stock worth $8,828,000 after buying an additional 40,878 shares in the last quarter. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

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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