Conversant Capital LLC recently announced the acquisition of new stake in Target Hospitality Corp (NASDAQ:TH). The institutional investor has increased its shareholding in the Industrials company by 7.86% to 4.62 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 4.54% valued currently at $50.38 million. In addition, BlackRock Fund Advisors raised its holdings by 88302.0 to 1.88 million shares. And The Vanguard Group, Inc. has lifted its position by 48.17% or 0.52 million shares – to 1.6 million shares.
With over 0.48 million Target Hospitality Corp (TH) shares trading Friday and a closing price of $9.40 on the day, the dollar volume was approximately $4.48 million. The shares have shown a negative half year performance of -27.86% and its price on 12/22/23 gained nearly 2.29%. Currently, there are 100.32M common shares owned by the public and among those 33.17M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for TH have a consensus price objective of $14.00. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $12.00. The average price target is -40.93% below its recent price level and an upside to the estimated low will see the stock gain 21.67% over that period. But an upside of 41.25% will see the stock hit the forecast high price target while median target price for the stock is $14.00.
Insiders at the company have transacted a total of 134 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 58 of these insider trades were purchases, accounting for 2,144,470 shares. Insider sales of the common stock occurred on 76 occasions, with total insider shares sold totaling 1,905,391 shares.
The top 3 mutual fund holders in Target Hospitality Corp are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 1.0 million shares of the company’s stock, all valued at over $10.86 million. iShares Russell 2000 ETF bought 378.0 shares to see its total holdings expand to 0.77 million shares valued at over $8.4 million and representing 0.76% of the shares outstanding. Vanguard Extended Market Index Fu bought 8038.0 shares to bring its total holdings to over 0.37 million shares at a value of $3.99 million. Vanguard Extended Market Index Fu now owns shares totaling to 0.36% of the shares outstanding.
Shares of Target Hospitality Corp (NASDAQ: TH) opened at $9.25, up $0.06 from a prior closing price of $9.19. However, the script later moved the day high at 9.49, up 2.29%. The company’s stock has a 5-day price change of 3.98% and -37.50% over the past three months. TH shares are trading -37.91% year to date (YTD), with the 12-month market performance down to -39.74% lower. It has a 12-month low price of $8.85 and touched a high of $18.48 over the same period. TH has an average intraday trading volume of 786.70K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.21%, -22.24%, and -31.64% respectively.
Institutional ownership of Target Hospitality Corp (NASDAQ: TH) shares accounts for 31.76% of the company’s 100.32M shares outstanding. Mutual fund holders own 6.28%, while other institutional holders and individual stakeholders account for 69.02% and 25.53% respectively.
It has a market capitalization of $955.60M and a beta (3y monthly) value of 2.04. The stock’s trailing 12-month PE ratio is 5.88, while the earnings-per-share (ttm) stands at $1.60. The company has a PEG of 0.39 and a Quick Ratio of 0.58 with the debt-to-equity ratio at 0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.09% over the week and 3.98% over the month.
Analysts forecast that Target Hospitality Corp (TH) will achieve an EPS of $0.24 for the current quarter, $0.13 for the next quarter and $0.59 for 2024. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.37. Comparatively, EPS for the current quarter was $0.31 a year ago. Earnings per share for the fiscal year are expected to increase by 60.06%, and -61.64% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Target Hospitality Corp (TH) as a “Strong Buy” at a consensus score of 1.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TH, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on June 23, 2021, with the firm’s price target at $6.
