[ad_1]
Target Hospitality (TH) Stock Rising, Here’s Why
What happened: Employee housing company Target Hospitality (NASDAQ: Employee Housing) reported fourth-quarter results that topped analysts’ revenue estimates, sending the company’s shares up 17.1% in premarket trading. Strong revenue performance was driven by growing customer demand in the government sector (which benefited from the company’s Pecos Children’s Center community contract) and HFS’s southern division. Its operating margin also beat Wall Street expectations. Guidance is also encouraging, with full-year 2024 revenue guidance easily achievable and the outlook for adjusted EBITDA slightly above expectations. Zooming out, it was an excellent quarter that should have shareholders cheering. After the initial jump, shares cooled to $8.91, up 4.2% from the previous close.
Is now a good time to buy Target Hospitality? Read the original article on StockStory to find out.
What the Market Tells Us: Target Hospitality’s share price has been less volatile than the market average, with only 23 moves of more than 5% in the last year. Such a big move is rare for Target Hospitality, suggesting the news has a significant impact on the market’s view of the business.
Target Hospitality has fallen 9.3% since the beginning of the year to $8.91 per share and is 48.5% below its 52-week high of $17.31 from March 2023. An investor who purchased $1,000 worth of Target Hospitality stock 5 years ago would now be looking at an investment worth $882.18.
[ad_2]
Source link