DA Davidson Cuts WillScot (NASDAQ:WSC) Price Target to $30.00

WillScot (NASDAQ:WSC) had its target price lowered by DA Davidson from $32.00 to $30.00 in a research note issued to investors on Tuesday morning,Benzinga reports. DA Davidson currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on WSC. Morgan Stanley boosted their price objective on shares of WillScot from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday. Oppenheimer upped their price target on WillScot from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday. Wall Street Zen downgraded WillScot from a “hold” rating to a “sell” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of WillScot in a report on Wednesday, January 21st. Finally, Robert W. Baird reissued a “neutral” rating and set a $23.00 target price (up from $22.00) on shares of WillScot in a research report on Wednesday, January 21st. Three equities research 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.com, WillScot has an average rating of “Hold” and a consensus target price of $25.38.

WillScot Stock Performance

NASDAQ:WSC opened at $22.17 on Tuesday. The stock’s 50-day moving average is $21.01 and its 200-day moving average is $21.33. WillScot has a 1-year low of $14.91 and a 1-year high of $34.31. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 4.15. The stock has a market cap of $4.03 billion, a P/E ratio of -73.90, a price-to-earnings-growth ratio of 1.59 and a beta of 1.12.

WillScot (NASDAQ:WSC) last posted its earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). WillScot had a positive return on equity of 20.42% and a negative net margin of 2.32%.The business had revenue of $565.97 million for the quarter, compared to analyst estimates of $545.34 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts anticipate that WillScot will post 1.77 earnings per share for the current year.

WillScot Dividend Announcement

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

Institutional Trading of WillScot

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in WillScot by 24.6% in the first quarter. Royal Bank of Canada now owns 33,684 shares of the company’s stock worth $936,000 after purchasing an additional 6,651 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of WillScot by 1.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 724,638 shares of the company’s stock worth $20,145,000 after purchasing an additional 8,963 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of WillScot by 8.8% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 68,764 shares of the company’s stock worth $1,884,000 after purchasing an additional 5,552 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of WillScot by 217.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 482,141 shares of the company’s stock valued at $13,211,000 after buying an additional 330,042 shares during the period. Finally, Teacher Retirement System of Texas increased its position in WillScot by 3.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 27,912 shares of the company’s stock valued at $765,000 after buying an additional 866 shares in the last quarter. Institutional investors own 95.81% of the company’s stock.

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.