Brokerages Set WillScot Holdings Corporation (NASDAQ:WSC) Price Target at $30.89

WillScot Holdings Corporation (NASDAQ:WSC) has been assigned a consensus rating of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $30.8889.

A number of brokerages have issued reports on WSC. Robert W. Baird lowered their price target on WillScot from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. Citigroup began coverage on WillScot in a research report on Monday, October 20th. They set a “buy” rating and a $28.00 price target on the stock. Morgan Stanley lowered their price target on WillScot from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Jefferies Financial Group lowered their price target on WillScot from $32.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, September 29th. Finally, Barclays decreased their target price on WillScot from $34.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 24th.

Insider Activity at WillScot

In other news, CEO Bradley Lee Soultz bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average price of $25.35 per share, for a total transaction of $76,050.00. Following the completion of the transaction, the chief executive officer directly owned 126,817 shares in the company, valued at $3,214,810.95. The trade was a 2.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Hezron T. Lopez sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total value of $541,860.00. Following the completion of the transaction, the executive vice president owned 54,038 shares in the company, valued at approximately $1,330,955.94. This trade represents a 28.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WillScot

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of WillScot by 11.7% in the first quarter. Vanguard Group Inc. now owns 18,338,511 shares of the company’s stock valued at $509,811,000 after acquiring an additional 1,924,653 shares in the last quarter. William Blair Investment Management LLC lifted its position in WillScot by 3.4% during the second quarter. William Blair Investment Management LLC now owns 5,462,958 shares of the company’s stock worth $149,685,000 after buying an additional 180,797 shares in the last quarter. Baillie Gifford & Co. purchased a new position in WillScot during the first quarter worth approximately $145,392,000. Norges Bank purchased a new position in WillScot during the second quarter worth approximately $125,126,000. Finally, Geode Capital Management LLC lifted its position in WillScot by 2.2% during the second quarter. Geode Capital Management LLC now owns 3,277,913 shares of the company’s stock worth $89,829,000 after buying an additional 71,347 shares in the last quarter. Hedge funds and other institutional investors own 95.81% of the company’s stock.

WillScot Stock Performance

Shares of WSC stock opened at $22.16 on Friday. The company has a market capitalization of $4.03 billion, a P/E ratio of 36.93, a P/E/G ratio of 2.01 and a beta of 1.10. The business’s 50 day moving average is $22.59 and its two-hundred day moving average is $25.61. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55. WillScot has a 12-month low of $20.08 and a 12-month high of $42.15.

WillScot (NASDAQ:WSC) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The business had revenue of $589.08 million for the quarter, compared to analysts’ expectations of $587.07 million. WillScot had a return on equity of 24.83% and a net margin of 4.66%.The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 EPS. Analysts expect that WillScot will post 1.77 EPS for the current fiscal year.

About WillScot

WillScot Holdings Corporation provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.