WillScot (NASDAQ:WSC) Stock Jumps 8.5% – Here’s What Happened

by · The Markets Daily

WillScot Holdings Corporation (NASDAQ:WSC – Get Free Report)’s stock price rose 8.5% during trading on Monday. The stock traded as high as $19.78 and last traded at $19.9020. 295,531 shares were traded during trading, a decline of 88% from the average session volume of 2,449,304 shares. The stock had previously closed at $18.34.

Analyst Ratings Changes

Several brokerages have weighed in on WSC. Citigroup dropped their target price on WillScot from $30.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Robert W. Baird cut their target price on WillScot from $28.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Weiss Ratings reissued a “sell (d)” rating on shares of WillScot in a report on Monday, August 17th. UBS Group lowered their price target on shares of WillScot from $29.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 16th. Finally, Barclays increased their price objective on shares of WillScot from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.86.

Get Our Latest Stock Analysis on WillScot

WillScot Stock Performance

The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -51.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. The company’s 50-day simple moving average is $18.13 and its 200-day simple moving average is $21.86. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.80.

WillScot (NASDAQ:WSC – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $612.15 million during the quarter, compared to the consensus estimate of $585.43 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. Analysts predict that WillScot Holdings Corporation will post 1.13 EPS for the current fiscal year.

WillScot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. WillScot’s dividend payout ratio (DPR) is currently -73.68%.

Institutional Trading of WillScot

A number of hedge funds have recently bought and sold shares of WSC. Turtle Creek Asset Management Inc. raised its stake in shares of WillScot by 27.3% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company’s stock worth $136,624,000 after purchasing an additional 1,686,077 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 404,469 shares during the last quarter. Nykredit A S acquired a new stake in shares of WillScot during the 2nd quarter valued at about $75,934,000. Douglas Lane & Associates LLC grew its stake in shares of WillScot by 5.4% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,811,269 shares of the company’s stock valued at $31,118,000 after buying an additional 92,065 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of WillScot by 8.2% in the 1st quarter. Bank of America Corp DE now owns 1,370,062 shares of the company’s stock valued at $23,784,000 after buying an additional 104,275 shares in the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

WillScot Company Profile

(Get Free Report)

WillScot Holdings Corporation (NASDAQ: WSC) provides flexible workspace and storage solutions primarily to customers across North America. The company offers modular buildings, mobile offices, portable classrooms, storage units and other temporary or permanent space solutions for businesses, schools, construction sites, health care organizations, government agencies and other institutions.

In addition to renting and selling modular space and portable storage products, WillScot provides related services such as delivery, installation, relocation, site improvements, furnishings and facility services.

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