UBS Group Begins Coverage on WillScot (NASDAQ:WSC)

Stock analysts at UBS Group started coverage on shares of WillScot (NASDAQ:WSC) in a report issued on Wednesday. The brokerage set a “neutral” rating and a $19.00 price target on the stock. UBS Group’s price target would suggest a potential downside of 1.63% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Robert W. Baird reiterated a “neutral” rating and issued a $23.00 price objective (up from $22.00) on shares of WillScot in a research note on Wednesday, January 21st. Morgan Stanley upped their price objective on WillScot from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Zacks Research upgraded WillScot from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. DA Davidson dropped their price objective on WillScot from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, Citigroup dropped their price objective on WillScot from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, WillScot presently has an average rating of “Hold” and an average price target of $23.50.

WillScot Stock Performance

WSC stock opened at $19.32 on Wednesday. The firm has a market cap of $3.49 billion, a PE ratio of -65.04, a P/E/G ratio of 1.26 and a beta of 1.16. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 4.15. The business has a 50 day moving average of $19.89 and a 200-day moving average of $20.26. WillScot has a 12-month low of $14.91 and a 12-month high of $31.88.

WillScot (NASDAQ:WSC) last released its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). WillScot had a negative net margin of 2.32% and a positive return on equity of 20.42%. The business had revenue of $565.97 million during the quarter, compared to the consensus estimate of $545.34 million. During the same period in the prior year, the company earned $0.48 earnings per share. The business’s revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts expect that WillScot will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On WillScot

Several institutional investors have recently made changes to their positions in WSC. T. Rowe Price Investment Management Inc. lifted its position in shares of WillScot by 334.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company’s stock worth $103,988,000 after acquiring an additional 4,250,951 shares in the last quarter. Turtle Creek Asset Management Inc. lifted its position in shares of WillScot by 71.7% during the third quarter. Turtle Creek Asset Management Inc. now owns 8,730,347 shares of the company’s stock worth $184,298,000 after acquiring an additional 3,645,350 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of WillScot by 210.9% during the fourth quarter. Primecap Management Co. CA now owns 4,267,400 shares of the company’s stock worth $80,355,000 after acquiring an additional 2,894,900 shares in the last quarter. Norges Bank purchased a new stake in shares of WillScot during the fourth quarter worth $40,925,000. Finally, Coliseum Capital Management LLC lifted its position in shares of WillScot by 70.7% during the fourth quarter. Coliseum Capital Management LLC now owns 5,111,602 shares of the company’s stock worth $96,251,000 after acquiring an additional 2,117,247 shares in the last quarter. Hedge funds and other institutional investors own 95.81% of the company’s stock.

About WillScot

WillScot (NASDAQ: WSC) is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.