Morgan Stanley Cuts WillScot Mobile Mini (NASDAQ:WSC) Price Target to $38.00

WillScot Mobile Mini (NASDAQ:WSC) had its target price decreased by Morgan Stanley from $50.00 to $38.00 in a report released on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Oppenheimer reduced their target price on WillScot Mobile Mini from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. Barclays decreased their price objective on shares of WillScot Mobile Mini from $40.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Finally, Robert W. Baird dropped their target price on shares of WillScot Mobile Mini from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

WillScot Mobile Mini Stock Performance

Shares of WSC opened at $23.32 on Wednesday. WillScot Mobile Mini has a 52-week low of $21.91 and a 52-week high of $43.80. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 3.42. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 155.48, a PEG ratio of 2.18 and a beta of 1.25. The business’s 50 day moving average is $29.83 and its two-hundred day moving average is $34.24.

WillScot Mobile Mini (NASDAQ:WSC) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $602.52 million for the quarter, compared to the consensus estimate of $606.55 million. WillScot Mobile Mini had a net margin of 1.17% and a return on equity of 24.67%. Analysts forecast that WillScot Mobile Mini will post 1.77 EPS for the current fiscal year.

WillScot Mobile Mini Dividend Announcement

The company also recently declared a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 5th. WillScot Mobile Mini’s dividend payout ratio is currently 186.67%.

Insider Activity at WillScot Mobile Mini

In other WillScot Mobile Mini news, Director Erik Olsson sold 110,307 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $30.19, for a total value of $3,330,168.33. Following the completion of the sale, the director now directly owns 626,306 shares of the company’s stock, valued at approximately $18,908,178.14. This represents a 14.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Timothy D. Boswell acquired 5,000 shares of WillScot Mobile Mini stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $29.14 per share, with a total value of $145,700.00. Following the transaction, the chief operating officer now owns 34,156 shares in the company, valued at approximately $995,305.84. This represents a 17.15 % increase in their position. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WSC. GAMMA Investing LLC boosted its stake in shares of WillScot Mobile Mini by 273.2% during the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company’s stock worth $26,000 after acquiring an additional 683 shares in the last quarter. State of Wyoming acquired a new position in shares of WillScot Mobile Mini in the 4th quarter valued at $34,000. Jones Financial Companies Lllp boosted its position in shares of WillScot Mobile Mini by 93.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,303 shares of the company’s stock valued at $77,000 after purchasing an additional 1,113 shares during the period. Fifth Third Bancorp increased its stake in WillScot Mobile Mini by 28.0% in the 1st quarter. Fifth Third Bancorp now owns 2,358 shares of the company’s stock worth $66,000 after purchasing an additional 516 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in WillScot Mobile Mini during the 4th quarter worth about $154,000. Institutional investors and hedge funds own 95.81% of the company’s stock.

About WillScot Mobile Mini

WillScot Holdings Corporation provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.