WillScot (NASDAQ:WSC) Price Target Cut to $23.00 by Analysts at Citigroup

WillScot (NASDAQ:WSC) had its price target reduced by Citigroup from $26.00 to $23.00 in a report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Zacks Research upgraded shares of WillScot from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. William Blair reiterated a “market perform” rating on shares of WillScot in a report on Thursday. Oppenheimer raised their price objective on WillScot from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Wall Street Zen cut WillScot from a “hold” rating to a “sell” rating in a research note on Monday, February 23rd. Finally, Barclays upped their target price on WillScot from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, WillScot presently has an average rating of “Hold” and an average target price of $25.50.

WillScot Trading Up 2.8%

Shares of WSC opened at $19.80 on Monday. WillScot has a twelve month low of $14.91 and a twelve month high of $31.88. The firm has a market capitalization of $3.58 billion, a P/E ratio of -66.00, a price-to-earnings-growth ratio of 1.40 and a beta of 1.08. 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’s fifty day simple moving average is $21.19 and its 200 day simple moving average is $21.11.

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

WillScot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, March 4th. WillScot’s dividend payout ratio (DPR) is -93.33%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in shares of WillScot in the 4th quarter worth approximately $71,000. T. Rowe Price Investment Management Inc. lifted its stake in WillScot by 334.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company’s stock worth $103,988,000 after purchasing an additional 4,250,951 shares during the last quarter. Invesco Ltd. boosted its holdings in WillScot by 8.3% in the fourth quarter. Invesco Ltd. now owns 3,070,588 shares of the company’s stock worth $57,819,000 after purchasing an additional 235,954 shares during the period. Alberta Investment Management Corp acquired a new position in WillScot in the fourth quarter worth $1,166,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in WillScot during the fourth quarter valued at $191,000. 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.