WillScot (NASDAQ:WSC) Given New $22.00 Price Target at Barclays

WillScot (NASDAQ:WSC) had its target price boosted by equities researchers at Barclays from $18.00 to $22.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 13.70% from the company’s previous close.

Other analysts also recently issued reports about the company. Oppenheimer upped 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. Weiss Ratings reissued a “sell (d+)” rating on shares of WillScot in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of WillScot from a “hold” rating to a “sell” rating in a report on Monday, February 23rd. Morgan Stanley lifted their price target on shares of WillScot from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Finally, William Blair reissued a “market perform” rating on shares of WillScot in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.88.

WillScot Price Performance

NASDAQ:WSC traded down $0.72 during mid-day trading on Friday, hitting $19.35. 943,192 shares of the company’s stock traded hands, compared to its average volume of 1,895,842. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.78 and a current ratio of 0.86. The company has a market cap of $3.50 billion, a PE ratio of -64.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.08. The firm’s 50 day simple moving average is $21.19 and its 200 day simple moving average is $21.21. WillScot has a 1 year low of $14.91 and a 1 year high of $31.88.

WillScot (NASDAQ:WSC) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.29 EPS 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 during the quarter, compared to analyst estimates of $545.34 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts expect that WillScot will post 1.77 EPS for the current year.

Institutional Investors Weigh In On WillScot

Several hedge funds have recently modified their holdings of WSC. Norges Bank acquired a new position in WillScot during the second quarter worth approximately $125,126,000. T. Rowe Price Investment Management Inc. grew its stake in shares of WillScot by 334.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company’s stock valued at $103,988,000 after buying an additional 4,250,951 shares during the period. Turtle Creek Asset Management Inc. increased its holdings in shares of WillScot by 71.7% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 8,730,347 shares of the company’s stock worth $184,298,000 after buying an additional 3,645,350 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of WillScot by 210.9% during the 4th quarter. Primecap Management Co. CA now owns 4,267,400 shares of the company’s stock worth $80,355,000 after buying an additional 2,894,900 shares during the last quarter. Finally, Coliseum Capital Management LLC raised its position in shares of WillScot by 70.7% in the 4th quarter. Coliseum Capital Management LLC now owns 5,111,602 shares of the company’s stock worth $96,251,000 after buying an additional 2,117,247 shares during the period. 95.81% of the stock is owned by institutional investors and hedge funds.

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.