WillScot (NASDAQ:WSC) Shares Down 4.3% – What’s Next?

WillScot Holdings Corporation (NASDAQ:WSC)’s stock price dropped 4.3% during trading on Tuesday . The company traded as low as $21.56 and last traded at $21.55. 866,804 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 2,331,656 shares. The stock had previously closed at $22.53.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird set a $26.00 price objective on WillScot in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WillScot in a research report on Monday, August 17th. Barclays increased their price target on WillScot from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Wall Street Zen raised WillScot from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley boosted their price objective on WillScot from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.50.

WillScot Trading Down 4.3%

The firm has a 50 day simple moving average of $25.93 and a 200 day simple moving average of $23.33. 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 firm has a market cap of $3.90 billion, a P/E ratio of -56.74, a P/E/G ratio of 1.30 and a beta of 1.33.

WillScot (NASDAQ:WSC) last announced its quarterly earnings results 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 positive return on equity of 21.62% and a negative net margin of 3.00%.The firm had revenue of $612.15 million for the quarter, compared to analysts’ expectations of $585.43 million. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that WillScot Holdings Corporation will post 1.12 EPS for the current fiscal year.

WillScot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.28 annualized dividend and a yield of 1.3%. WillScot’s payout ratio is currently -73.68%.

Institutional Trading of WillScot

Institutional investors and hedge funds have recently bought and sold shares of the company. Turtle Creek Asset Management Inc. grew its position in shares of WillScot by 71.7% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 8,730,347 shares of the company’s stock valued at $184,298,000 after purchasing an additional 3,645,350 shares in the last quarter. California State Teachers Retirement System raised its position in shares of WillScot by 2,664.5% in the second quarter. California State Teachers Retirement System now owns 5,878,349 shares of the company’s stock worth $169,649,000 after buying an additional 5,665,711 shares in the last quarter. State Street Corp boosted its stake in WillScot by 1.4% during the fourth quarter. State Street Corp now owns 5,774,998 shares of the company’s stock valued at $108,743,000 after buying an additional 80,713 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in WillScot by 334.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company’s stock valued at $103,988,000 after buying an additional 4,250,951 shares during the period. Finally, Capital International Investors grew its position in WillScot by 10.8% during the fourth quarter. Capital International Investors now owns 5,489,528 shares of the company’s stock worth $103,368,000 after buying an additional 536,511 shares in the last quarter. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

WillScot Company Profile

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.