WillScot (NASDAQ:WSC) Trading Down 6.5% After Analyst Downgrade

Shares of WillScot Holdings Corporation (NASDAQ:WSC) fell 6.5% during mid-day trading on Wednesday after DA Davidson lowered their price target on the stock from $32.00 to $30.00. DA Davidson currently has a buy rating on the stock. WillScot traded as low as $22.12 and last traded at $22.1870. 1,620,922 shares were traded during trading, a decline of 10% from the average session volume of 1,796,146 shares. The stock had previously closed at $23.73.

A number of other research analysts have also issued reports on WSC. Robert W. Baird reissued a “neutral” rating and issued a $23.00 target price (up from $22.00) on shares of WillScot in a report on Wednesday, January 21st. Wall Street Zen cut shares of WillScot from a “hold” rating to a “sell” rating in a research note on Monday. Oppenheimer upped their price objective on shares of WillScot from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays dropped their price target on shares of WillScot from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Finally, Morgan Stanley raised their price objective on shares of WillScot from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, WillScot has a consensus rating of “Hold” and a consensus price target of $25.38.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC boosted its stake in shares of WillScot by 117.3% during the 4th quarter. Salomon & Ludwin LLC now owns 1,258 shares of the company’s stock worth $25,000 after acquiring an additional 679 shares in the last quarter. Parallel Advisors LLC raised its holdings in WillScot by 149.9% during the fourth quarter. Parallel Advisors LLC now owns 2,064 shares of the company’s stock worth $39,000 after purchasing an additional 1,238 shares during the last quarter. CWM LLC boosted its position in WillScot by 37.7% during the fourth quarter. CWM LLC now owns 2,071 shares of the company’s stock worth $39,000 after purchasing an additional 567 shares in the last quarter. Danske Bank A S acquired a new stake in WillScot in the third quarter valued at $44,000. Finally, First Horizon Advisors Inc. increased its position in shares of WillScot by 45.1% in the second quarter. First Horizon Advisors Inc. now owns 2,130 shares of the company’s stock valued at $58,000 after buying an additional 662 shares in the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

WillScot Stock Down 7.8%

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 firm has a 50 day moving average price of $20.94 and a 200-day moving average price of $21.32. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -72.90, a P/E/G ratio of 1.72 and a beta of 1.12.

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

WillScot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, March 4th. WillScot’s payout ratio is currently -93.33%.

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.