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

WillScot (NASDAQ:WSC) had its target price cut by Citigroup from $30.00 to $21.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on WSC. Robert W. Baird dropped 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. Barclays lifted their price target on WillScot from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of WillScot in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, WillScot has a consensus rating of “Hold” and a consensus price target of $25.00.

WillScot Trading Down 6.4%

Shares of WSC stock opened at $16.19 on Monday. WillScot has a 12 month low of $14.91 and a 12 month high of $29.77. The company has a market cap of $2.93 billion, a PE ratio of -42.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.40. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.80. The business’s 50 day moving average is $19.71 and its two-hundred day moving average is $22.84.

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

WillScot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, September 2nd. WillScot’s dividend payout ratio (DPR) is currently -73.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WSC. GAMMA Investing LLC grew its position in WillScot by 11.0% during the second quarter. GAMMA Investing LLC now owns 5,826 shares of the company’s stock worth $168,000 after buying an additional 577 shares in the last quarter. Leonteq Securities AG increased its stake in WillScot by 23.1% during the first quarter. Leonteq Securities AG now owns 4,476 shares of the company’s stock valued at $78,000 after acquiring an additional 841 shares during the period. Empowered Funds LLC increased its stake in WillScot by 2.2% during the first quarter. Empowered Funds LLC now owns 61,390 shares of the company’s stock valued at $1,066,000 after acquiring an additional 1,306 shares during the period. Ancora Advisors LLC bought a new position in WillScot during the second quarter valued at about $43,000. Finally, Elevation Wealth Partners LLC raised its holdings in WillScot by 620.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,758 shares of the company’s stock valued at $30,000 after acquiring an additional 1,514 shares in the last quarter. Institutional investors own 95.81% of the company’s stock.

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.