Target Hospitality (NYSE:TH) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Target Hospitality (NYSE:TH) from a sell rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.

According to Zacks, “Target Hospitality Corp. is the holding company for Target Lodging, Signor Lodging and their respective subsidiaries. The company, through Target Lodging and Signor Lodging, builds, owns and operates customized housing communities for hospitality solutions including culinary, catering, concierge, laundry and security services as well as recreational facilities. It primarily serves the oil and gas, energy and government sectors. Target Hospitality Corp., formerly knonw as Platinum Eagle Acquisition Corp., is headquartered in The Woodlands, Texas. “

Several other brokerages have also commented on TH. Northland Securities restated a buy rating and set a $12.00 target price on shares of Target Hospitality in a research report on Tuesday, September 3rd. National Bank of Canada restated a sector perform rating on shares of Target Hospitality in a research report on Friday, July 12th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $12.52.

Shares of NYSE TH traded down $0.06 during trading on Friday, hitting $5.61. 131,174 shares of the company were exchanged, compared to its average volume of 290,356. Target Hospitality has a 1 year low of $5.21 and a 1 year high of $12.11. The stock has a fifty day moving average price of $6.14.

Target Hospitality (NYSE:TH) last issued its earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $81.36 million for the quarter, compared to the consensus estimate of $82.58 million.

In other Target Hospitality news, CEO James B. Archer acquired 64,084 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $6.24 per share, for a total transaction of $399,884.16. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Sagansky acquired 55,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average price of $6.93 per share, for a total transaction of $381,150.00. The disclosure for this purchase can be found here. Insiders purchased a total of 151,584 shares of company stock worth $982,659 over the last quarter.

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in Target Hospitality in the 2nd quarter valued at about $25,000. Creative Planning raised its stake in Target Hospitality by 20.0% in the 3rd quarter. Creative Planning now owns 18,160 shares of the company’s stock valued at $124,000 after purchasing an additional 3,025 shares during the last quarter. Rhumbline Advisers raised its stake in Target Hospitality by 13.4% in the 3rd quarter. Rhumbline Advisers now owns 34,476 shares of the company’s stock valued at $235,000 after purchasing an additional 4,069 shares during the last quarter. Strs Ohio acquired a new position in Target Hospitality in the 2nd quarter valued at about $80,000. Finally, California Public Employees Retirement System acquired a new position in Target Hospitality in the 3rd quarter valued at about $70,000.

About Target Hospitality

Target Hospitality Corp., through its subsidiaries, provides specialty rental accommodations with catering and value-added hospitality services in the United States. The company was formerly known as Platinum Eagle Acquisition Corp. and changed its name to Target Hospitality Corp. in March 2019. The company is headquartered in The Woodlands, Texas.

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