WillScot (NASDAQ:WSC) Given New $21.00 Price Target at Citigroup

WillScot (NASDAQ:WSC) had its price objective lowered by equities research analysts at Citigroup from $30.00 to $21.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 20.55% from the stock’s previous close.

A number of other research analysts also recently weighed in on WSC. Robert W. Baird dropped their price target on WillScot from $28.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays raised their price objective on WillScot from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of WillScot in a research note on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.00.

WillScot Stock Up 2.1%

WSC traded up $0.35 during midday trading on Monday, hitting $17.42. The company had a trading volume of 2,312,396 shares, compared to its average volume of 2,405,022. WillScot has a 52 week low of $14.91 and a 52 week high of $29.77. 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 company 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 stock’s 50 day moving average price is $20.27 and its 200 day moving average price is $22.87.

WillScot (NASDAQ:WSC) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. WillScot had a negative net margin of 3.00% and a positive return on equity of 21.62%. The firm had revenue of $612.15 million for the quarter, compared to analyst estimates of $585.43 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts anticipate that WillScot will post 1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WillScot

A number of hedge funds have recently bought and sold shares of WSC. Turtle Creek Asset Management Inc. increased its holdings in WillScot by 27.3% during the first quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company’s stock worth $136,624,000 after buying an additional 1,686,077 shares during the last quarter. Nykredit A S bought a new stake in WillScot in the second quarter worth about $75,934,000. Dimensional Fund Advisors LP raised its position in WillScot by 10.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,110,002 shares of the company’s stock worth $71,339,000 after acquiring an additional 404,469 shares during the period. Bank of New York Mellon Corp purchased a new position in WillScot in the second quarter valued at about $38,500,000. Finally, Douglas Lane & Associates LLC boosted its stake in WillScot by 5.4% in the third quarter. Douglas Lane & Associates LLC now owns 1,811,269 shares of the company’s stock valued at $31,118,000 after acquiring an additional 92,065 shares during the last quarter. 95.81% of the stock is 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.