WillScot (NASDAQ:WSC) Price Target Raised to $22.00 at Barclays

WillScot (NASDAQ:WSC) had its price objective raised by Barclays from $18.00 to $22.00 in a report published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages also recently issued reports on WSC. Morgan Stanley raised their price objective on shares of WillScot from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Wall Street Zen cut WillScot from a “hold” rating to a “sell” rating in a report on Monday, February 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $23.00 price objective (up from $22.00) on shares of WillScot in a report on Wednesday, January 21st. Citigroup increased their price objective on WillScot from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Finally, Oppenheimer lifted their target price on WillScot from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.88.

WillScot Price Performance

NASDAQ:WSC opened at $19.26 on Friday. The company has a market cap of $3.48 billion, a P/E ratio of -64.20, a P/E/G ratio of 1.46 and a beta of 1.08. The firm’s fifty day moving average price is $21.18 and its two-hundred day moving average price is $21.17. WillScot has a one year low of $14.91 and a one year high of $31.88. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.78.

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

WillScot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, March 4th. WillScot’s dividend payout ratio is presently -93.33%.

Institutional Investors Weigh In On WillScot

A number of large investors have recently bought and sold shares of WSC. Turtle Creek Asset Management Inc. increased its stake in WillScot by 71.7% in the third quarter. Turtle Creek Asset Management Inc. now owns 8,730,347 shares of the company’s stock valued at $184,298,000 after acquiring an additional 3,645,350 shares during the last quarter. State Street Corp boosted its holdings in shares of WillScot by 1.4% in the 4th quarter. State Street Corp now owns 5,774,998 shares of the company’s stock valued at $108,743,000 after purchasing an additional 80,713 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of WillScot by 334.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company’s stock valued at $103,988,000 after purchasing an additional 4,250,951 shares in the last quarter. Capital International Investors increased its stake in shares of WillScot by 10.8% in the 4th quarter. Capital International Investors now owns 5,489,528 shares of the company’s stock valued at $103,368,000 after purchasing an additional 536,511 shares during the last quarter. Finally, Coliseum Capital Management LLC increased its stake in shares of WillScot by 70.7% in the 4th quarter. Coliseum Capital Management LLC now owns 5,111,602 shares of the company’s stock valued at $96,251,000 after purchasing an additional 2,117,247 shares during the last quarter. 95.81% of the stock is currently owned by institutional investors and hedge funds.

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.