WillScot (NASDAQ:WSC) Stock Gets Price Target Trim from Citigroup

WillScot (NASDAQ:WSC) had its price objective dropped by Citigroup from $30.00 to $21.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 20.55% from the company’s current price.

Other research analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of WillScot in a research note on Monday, August 17th. Barclays lifted their price objective on WillScot from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, Robert W. Baird lowered their price objective on WillScot from $28.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, WillScot has an average rating of “Hold” and an average price target of $25.00.

WillScot Stock Performance

NASDAQ WSC traded up $0.35 on Monday, hitting $17.42. 2,312,396 shares of the stock traded hands, compared to its average volume of 2,405,022. The business’s fifty day moving average is $20.27 and its two-hundred day moving average is $22.87. WillScot has a 12 month low of $14.91 and a 12 month high of $29.77. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -45.84, a PEG ratio of 0.99 and a beta of 1.40. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.74 and a current ratio of 0.81.

WillScot (NASDAQ:WSC) last released its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $612.15 million during the quarter, compared to the consensus estimate of $585.43 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. As a group, equities analysts anticipate that WillScot will post 1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On WillScot

Several hedge funds have recently made changes to their positions in WSC. Douglas Lane & Associates LLC raised its stake in shares of WillScot by 5.4% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,811,269 shares of the company’s stock valued at $31,118,000 after purchasing an additional 92,065 shares during the period. Elevation Wealth Partners LLC lifted its holdings in WillScot by 620.5% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,758 shares of the company’s stock worth $30,000 after purchasing an additional 1,514 shares in the last quarter. Tidal Investments LLC boosted its stake in WillScot by 390.6% in the 2nd quarter. Tidal Investments LLC now owns 129,595 shares of the company’s stock worth $3,740,000 after purchasing an additional 103,178 shares during the period. Engineers Gate Manager LP bought a new position in WillScot in the 2nd quarter worth about $332,000. Finally, Nykredit A S bought a new position in WillScot in the 2nd quarter worth about $54,063,000. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

About WillScot

WillScot (NASDAQ:WSC) is a North American provider of flexible workspace and portable storage solutions. The company supplies modular buildings, mobile offices, classrooms, commercial space and storage units for customers in construction, education, healthcare, government, retail and other industries.

WillScot’s services generally include the rental, sale, delivery, installation, relocation and servicing of modular buildings and portable storage products. Its offerings are designed to provide temporary, semi-permanent or expanded space for organizations managing construction projects, renovations, disaster recovery, workforce growth and other changing space requirements.

The company was formed through the combination of WillScot Corporation and Mobile Mini in 2020, bringing together modular workspace and portable storage operations.