WillScot (NASDAQ:WSC) Stock Jumps 8.5% – Here’s Why

Shares of WillScot Holdings Corporation (NASDAQ:WSC) shot up 8.5% on Monday. The stock traded as high as $19.78 and last traded at $19.9020. 295,531 shares were traded during mid-day trading, a decline of 88% from the average session volume of 2,449,304 shares. The stock had previously closed at $18.34.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WSC shares. Citigroup reduced their price target on shares of WillScot from $30.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, October 12th. 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. Robert W. Baird reduced their target price on shares of WillScot from $28.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. UBS Group lowered their price objective on shares of WillScot from $29.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of WillScot in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.86.

WillScot Trading Up 7.5%

The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.74 and a current ratio of 0.81. The stock has a market capitalization of $3.57 billion, a P/E ratio of -51.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.40. The firm’s fifty day simple moving average is $18.24 and its 200 day simple moving average is $21.88.

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

WillScot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $0.28 annualized dividend and a yield of 1.4%. WillScot’s payout ratio is currently -73.68%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WSC. Tidal Investments LLC lifted its stake in WillScot by 390.6% in the second 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 last quarter. Hsbc Holdings PLC lifted its holdings in shares of WillScot by 494.6% during the fourth quarter. Hsbc Holdings PLC now owns 56,917 shares of the company’s stock valued at $1,073,000 after purchasing an additional 47,344 shares in the last quarter. Nykredit A S purchased a new stake in WillScot during the second quarter valued at $54,063,000. Turtle Creek Asset Management Inc. increased its stake in shares of WillScot by 27.3% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company’s stock worth $136,624,000 after purchasing an additional 1,686,077 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in WillScot during the second quarter valued at approximately $1,453,000. Institutional investors own 95.81% of the company’s stock.

WillScot Company Profile

WillScot Holdings Corporation (NASDAQ: WSC) provides flexible workspace and storage solutions primarily to customers across North America. The company offers modular buildings, mobile offices, portable classrooms, storage units and other temporary or permanent space solutions for businesses, schools, construction sites, health care organizations, government agencies and other institutions.

In addition to renting and selling modular space and portable storage products, WillScot provides related services such as delivery, installation, relocation, site improvements, furnishings and facility services.