WillScot (NASDAQ:WSC) Trading Down 6.5% Following Analyst Downgrade

Shares of WillScot Holdings Corporation (NASDAQ:WSC) traded down 6.5% during trading on Wednesday after DA Davidson lowered their price target on the stock from $32.00 to $30.00. DA Davidson currently has a buy rating on the stock. WillScot traded as low as $22.12 and last traded at $22.1870. 1,620,922 shares were traded during mid-day trading, a decline of 10% from the average session volume of 1,796,146 shares. The stock had previously closed at $23.73.

WSC has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of WillScot in a research report on Wednesday, January 21st. Citigroup upped their price objective on WillScot from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer boosted their price target on WillScot from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday. Barclays lowered their price objective on shares of WillScot from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Finally, Wall Street Zen cut shares of WillScot from a “hold” rating to a “sell” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.38.

Hedge Funds Weigh In On WillScot

Several hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its position in shares of WillScot by 74.6% during the second quarter. Baird Financial Group Inc. now owns 274,619 shares of the company’s stock worth $7,525,000 after purchasing an additional 117,309 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in WillScot by 2.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,861,031 shares of the company’s stock valued at $78,392,000 after buying an additional 57,946 shares during the period. Van Berkom & Associates Inc. grew its stake in WillScot by 26.8% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,054,636 shares of the company’s stock worth $64,483,000 after acquiring an additional 645,246 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of WillScot during the second quarter worth approximately $1,339,000. Finally, Oak Thistle LLC bought a new stake in shares of WillScot during the third quarter valued at approximately $1,649,000. 95.81% of the stock is currently owned by institutional investors.

WillScot Price Performance

The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.78 and a current ratio of 0.86. The firm has a fifty day simple moving average of $20.89 and a 200 day simple moving average of $21.32. The company has a market capitalization of $4.05 billion, a PE ratio of -74.13, a P/E/G ratio of 1.69 and a beta of 1.12.

WillScot (NASDAQ:WSC) last issued its quarterly 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). The business had revenue of $565.97 million for the quarter, compared to analyst estimates of $545.34 million. WillScot had a positive return on equity of 20.42% and a negative net margin of 2.32%.The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. Equities analysts anticipate that WillScot Holdings Corporation will post 1.77 EPS for the current year.

WillScot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, March 4th. WillScot’s dividend payout ratio (DPR) is -93.33%.

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.