WillScot (NASDAQ:WSC) Price Target Cut to $21.00 by Analysts at Robert W. Baird

WillScot (NASDAQ:WSC) had its price target decreased by Robert W. Baird from $28.00 to $21.00 in a research note issued to investors on Monday morning, MarketBeat Ratings reports. Robert W. Baird currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. Citigroup lifted their price objective on WillScot from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings reissued a “sell (d)” rating on shares of WillScot in a research note on Monday, August 17th. Finally, Barclays increased their target price on WillScot from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, WillScot presently has an average rating of “Hold” and an average target price of $25.00.

WillScot Stock Up 2.1%

Shares of NASDAQ:WSC opened at $17.42 on Monday. WillScot has a fifty-two week low of $14.91 and a fifty-two 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 firm’s 50-day simple moving average is $20.11 and its 200-day simple moving average is $22.87. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -45.84, a PEG ratio of 0.99 and a beta of 1.40.

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

WillScot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, September 2nd. WillScot’s dividend payout ratio (DPR) is currently -73.68%.

Institutional Trading of WillScot

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nykredit A S acquired a new position in WillScot during the second quarter worth about $75,934,000. Turtle Creek Asset Management Inc. increased its holdings in WillScot by 27.3% in the first quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company’s stock valued at $136,624,000 after buying an additional 1,686,077 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in WillScot in the second quarter valued at about $38,500,000. Ranger Investment Management L.P. acquired a new stake in shares of WillScot during the 2nd quarter valued at approximately $24,082,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of WillScot by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,110,002 shares of the company’s stock valued at $71,339,000 after acquiring an additional 404,469 shares during the period. Institutional investors and hedge funds own 95.81% of the company’s stock.

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.