Northland Capmk Has Optimistic Outlook of TH FY2024 Earnings

Target Hospitality Corp. (NASDAQ:TH) – Analysts at Northland Capmk upped their FY2024 earnings estimates for Target Hospitality in a research report issued on Wednesday, November 13th. Northland Capmk analyst G. Gibas now anticipates that the company will post earnings of $0.65 per share for the year, up from their prior estimate of $0.59. The consensus estimate for Target Hospitality’s current full-year earnings is $0.62 per share. Northland Capmk also issued estimates for Target Hospitality’s Q4 2024 earnings at $0.07 EPS and Q4 2025 earnings at $0.09 EPS.

A number of other brokerages have also issued reports on TH. Oppenheimer restated a “market perform” rating on shares of Target Hospitality in a research note on Thursday. Northland Securities boosted their target price on shares of Target Hospitality from $9.00 to $11.00 and gave the company a “market perform” rating in a research note on Wednesday.

Target Hospitality Trading Down 2.2 %

Shares of NASDAQ:TH opened at $9.08 on Friday. The company has a fifty day simple moving average of $8.37 and a 200 day simple moving average of $9.28. The firm has a market cap of $911.41 million, a PE ratio of 10.43, a price-to-earnings-growth ratio of 1.06 and a beta of 2.09. Target Hospitality has a 12-month low of $6.11 and a 12-month high of $11.84.

Hedge Funds Weigh In On Target Hospitality

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Target Hospitality by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,801,234 shares of the company’s stock valued at $19,579,000 after acquiring an additional 26,796 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Target Hospitality by 10.1% during the third quarter. HighTower Advisors LLC now owns 1,466,356 shares of the company’s stock valued at $11,408,000 after acquiring an additional 134,966 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Target Hospitality by 6.1% during the second quarter. Renaissance Technologies LLC now owns 741,036 shares of the company’s stock valued at $6,454,000 after acquiring an additional 42,800 shares during the period. State Street Corp boosted its holdings in shares of Target Hospitality by 1.7% during the third quarter. State Street Corp now owns 725,905 shares of the company’s stock valued at $5,648,000 after acquiring an additional 12,087 shares during the period. Finally, LB Partners LLC lifted its holdings in Target Hospitality by 300.3% in the third quarter. LB Partners LLC now owns 536,428 shares of the company’s stock worth $4,173,000 after purchasing an additional 402,428 shares during the period. Institutional investors and hedge funds own 32.40% of the company’s stock.

Target Hospitality Company Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.