Target Hospitality
Builds and services modular workforce communities for remote energy, government, and infrastructure projects.
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Profile
Builds, owns, leases, and manages modular workforce communities, bundling lodging with food service, maintenance, housekeeping, security, and site operations. Revenue spans HFS-South natural-resource projects, Workforce Hospitality Solutions tied to critical-minerals and data-center infrastructure, and government accommodation contracts.
Operates specialty rental accommodations and full-service hospitality communities for customers that need staffed lodging near remote or fast-growing project sites. The core bundle combines workforce housing with catering, maintenance, housekeeping, security, recreation, community design, construction, and management.
Current segments are HFS-South, Workforce Hospitality Solutions, Government, and All Other. HFS-South serves natural-resource and development activity mainly in Texas and New Mexico, while WHS supports lithium, critical-minerals, power-generation, and data-center infrastructure communities. Government covers DIPC and related facility operations.
Execution depends on modular build speed, location breadth, occupancy, food-service quality, and the ability to redeploy assets as contracts change. The business is concentrated in the United States and Canada, with revenue shaped by large project awards and government-contract transitions.
Company facts
Categories
Key statistics
Year to date +129% · Average volume (30d) 1.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Northland Securities | Target | $24 | $25 | ||
| Aug 27, 2026 | Stifel Nicolaus | Target | $11 | $26 | ||
| Aug 27, 2026 | Deutsche Bank | Reiterate | Buy | $22 | $23 | |
| Aug 20, 2026 | Deutsche Bank | Upgrade | Hold | Buy | ||
| Aug 17, 2026 | Morgan Stanley | Initiate | Overweight | $22 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | −$0.11 | −$0.09 | +15.1% | $79.3M | $85.5M | +7.8% | −2.67% |
| May 11, 2026Q1 FY26 | −$0.11 | −$0.13 | −18.2% | $73.2M | $72.8M | −0.6% | −3.32% |
| Mar 11, 2026Q4 FY25 | −$0.10 | −$0.15 | −50.0% | $85.8M | $89.8M | +4.6% | +6.83% |
| Nov 6, 2025Q3 FY25 | −$0.04 | −$0.01 | +75.0% | $85.2M | $99.4M | +16.6% | −1.69% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $69.9M | $61.6M | $99.4M | $89.8M | $72.8M | $85.5M | |
| Gross profit | $10.6M | −$7.8M | $10.5M | −$350.0K | −$501.0K | $15.8M | |
| Operating income | −$814.0K | −$17.1M | $934.0K | −$15.0M | −$11.7M | −$7.5M | |
| Net income | −$6.5M | −$14.9M | −$795.0K | −$14.9M | −$12.9M | −$9.0M | |
| Diluted EPS | −$0.07 | −$0.15 | −$0.01 | −$0.15 | −$0.13 | −$0.09 | |
| Gross margin | 15.2% | -12.6% | 10.5% | -0.4% | -0.7% | 18.5% | |
| Operating margin | -1.2% | -27.7% | 0.9% | -16.7% | -16.1% | -8.8% |
Fiscal years (4-quarter sums)FY21 $291.3M · FY22 $502.0M · FY23 $563.6M · FY24 $386.3M · FY25 $320.6M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $6.1M · Total debt $8.3M · Total assets $654.2M · Shareholders' equity $370.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 99.59M · Float 31.93M · 32.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| TDR Capital II Investments LP · 10 percent owner | 45.98M | 46.17% | Form 4 | Jun 22, 2026 |
| Private Capital Management, LLC | 3.26M | 3.27% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 3.16M | 3.17% | 13F | Aug 7, 2026 |
| Ophir Asset Management PTY Ltd | 2.69M | 2.70% | 13F | Aug 14, 2026 |
| Rubric Capital Management LP | 2.59M | 2.60% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jan 20, 2026 | Heidi Diane Lewis | officer: EVP, General Counsel & Sec | −9,000 | $7.34 |
| Dec 15, 2025 | Heidi Diane Lewis | officer: EVP, General Counsel & Sec | −13,456 | $8.50 |
| Dec 3, 2025 | Stephen Robertson | director | +125,000 | $7.94 |
| Nov 17, 2025 | Stephen Robertson | director | +145,000 | $6.85 |
| Nov 17, 2025 | Heidi Diane Lewis | officer: EVP, General Counsel & Sec | −9,000 | $6.70 |
Peers
- Civeo
Closest listed peer in workforce lodging and hospitality services
- WillScot
Temporary modular space and storage peer for project sites
