WillScot (NASDAQ:WSC) Price Target Raised to $23.00 at Morgan Stanley

by · The Markets Daily

WillScot (NASDAQ:WSC – Get Free Report) had its price target increased by equities research analysts at Morgan Stanley from $21.00 to $23.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 3.32% from the stock’s current price.

WSC has been the topic of several other reports. Barclays dropped 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 report on Monday, November 10th. Citigroup reissued a “buy” rating on shares of WillScot in a report on Monday. Robert W. Baird restated a “neutral” rating and set a $23.00 price objective (up from $22.00) on shares of WillScot in a research report on Wednesday, January 21st. DA Davidson decreased their target price on WillScot from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Finally, Wall Street Zen lowered WillScot from a “hold” rating to a “sell” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.50.

View Our Latest Analysis on WSC

WillScot Trading Down 2.4%

NASDAQ WSC traded down $0.55 on Monday, reaching $22.26. The company had a trading volume of 372,376 shares, compared to its average volume of 1,753,884. WillScot has a 52 week low of $14.91 and a 52 week high of $35.63. The stock’s 50 day moving average is $20.75 and its 200-day moving average is $21.34. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 4.15. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of -74.20, a PEG ratio of 2.19 and a beta of 1.12.

WillScot (NASDAQ:WSC – Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company 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%.WillScot’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Equities analysts predict that WillScot will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On WillScot

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

WillScot Company Profile

(Get Free Report)

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.

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