WillScot (NASDAQ:WSC) Earns Buy Rating from Analysts at Citigroup

Citigroup initiated coverage on shares of WillScot (NASDAQ:WSC) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $28.00 price target on the stock.

Several other analysts also recently issued reports on the company. Barclays cut their price objective on WillScot from $34.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 24th. Robert W. Baird cut their price target on shares of WillScot from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday. DA Davidson decreased their price objective on shares of WillScot from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, September 30th. Morgan Stanley lowered their price objective on shares of WillScot from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Finally, UBS Group set a $35.00 target price on WillScot in a report on Tuesday, September 30th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.89.

WillScot Trading Down 3.1%

Shares of NASDAQ:WSC opened at $21.55 on Monday. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.74 and a current ratio of 0.81. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 1.98 and a beta of 1.10. WillScot has a 1-year low of $20.08 and a 1-year high of $42.15. The company has a 50 day moving average price of $22.77 and a 200 day moving average price of $25.67.

WillScot (NASDAQ:WSC) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The company had revenue of $589.08 million for the quarter, compared to analyst estimates of $587.07 million. WillScot had a net margin of 4.66% and a return on equity of 24.83%. WillScot’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. WillScot has set its FY 2025 guidance at EPS. On average, research analysts anticipate that WillScot will post 1.77 EPS for the current fiscal year.

WillScot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. WillScot’s dividend payout ratio is currently 46.67%.

Insider Transactions at WillScot

In related news, CEO Bradley Lee Soultz purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average price of $25.35 per share, with a total value of $76,050.00. Following the completion of the acquisition, the chief executive officer directly owned 126,817 shares in the company, valued at approximately $3,214,810.95. This trade represents a 2.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Hezron T. Lopez sold 22,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $24.63, for a total value of $541,860.00. Following the transaction, the executive vice president directly owned 54,038 shares in the company, valued at approximately $1,330,955.94. This represents a 28.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WillScot

Several large investors have recently bought and sold shares of the business. Copeland Capital Management LLC boosted its stake in WillScot by 46.4% in the third quarter. Copeland Capital Management LLC now owns 1,279,936 shares of the company’s stock valued at $27,019,000 after acquiring an additional 405,901 shares during the last quarter. Live Oak Private Wealth LLC acquired a new position in shares of WillScot in the 3rd quarter valued at $4,025,000. Salvus Wealth Management LLC boosted its position in shares of WillScot by 1.5% in the 3rd quarter. Salvus Wealth Management LLC now owns 49,200 shares of the company’s stock worth $1,039,000 after purchasing an additional 730 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in shares of WillScot by 33.8% during the third quarter. Douglas Lane & Associates LLC now owns 1,699,982 shares of the company’s stock worth $35,887,000 after purchasing an additional 429,433 shares during the period. Finally, Trust Point Inc. grew its stake in shares of WillScot by 10.0% during the third quarter. Trust Point Inc. now owns 10,369 shares of the company’s stock worth $219,000 after purchasing an additional 939 shares during the period. 95.81% of the stock is currently owned by institutional investors and hedge funds.

About WillScot

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.