Robert W. Baird Issues Pessimistic Forecast for WillScot (NASDAQ:WSC) Stock Price

WillScot (NASDAQ:WSC) had its price target reduced by research analysts at Robert W. Baird from $28.00 to $21.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 21.46% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Barclays upped their price target on WillScot from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d)” rating on shares of WillScot in a research report on Monday, August 17th. Finally, Citigroup raised their price objective on WillScot from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, WillScot has a consensus rating of “Hold” and a consensus price target of $25.00.

WillScot Price Performance

WSC stock opened at $17.29 on Monday. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.74 and a current ratio of 0.81. The business has a 50-day simple moving average of $19.92 and a two-hundred day simple moving average of $22.86. The company has a market capitalization of $3.13 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.01 and a beta of 1.40. WillScot has a 52-week low of $14.91 and a 52-week high of $29.77.

WillScot (NASDAQ:WSC) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%. The firm had revenue of $612.15 million during the quarter, compared to the consensus estimate of $585.43 million. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts expect that WillScot will post 1.13 EPS for the current fiscal year.

Institutional Investors Weigh In On WillScot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in WillScot by 390.6% during the second quarter. Tidal Investments LLC now owns 129,595 shares of the company’s stock worth $3,740,000 after acquiring an additional 103,178 shares during the period. Hsbc Holdings PLC boosted its position in WillScot by 494.6% in the fourth quarter. Hsbc Holdings PLC now owns 56,917 shares of the company’s stock worth $1,073,000 after purchasing an additional 47,344 shares during the last quarter. Nykredit A S purchased a new position in WillScot in the second quarter worth $54,063,000. Turtle Creek Asset Management Inc. grew its stake in WillScot by 27.3% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company’s stock valued at $136,624,000 after purchasing an additional 1,686,077 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in WillScot in the 2nd quarter valued at $1,453,000. Hedge funds and other institutional investors own 95.81% of the company’s stock.

WillScot Company Profile

WillScot (NASDAQ:WSC) is a North American provider of flexible workspace and portable storage solutions. The company supplies modular buildings, mobile offices, classrooms, commercial space and storage units for customers in construction, education, healthcare, government, retail and other industries.

WillScot’s services generally include the rental, sale, delivery, installation, relocation and servicing of modular buildings and portable storage products. Its offerings are designed to provide temporary, semi-permanent or expanded space for organizations managing construction projects, renovations, disaster recovery, workforce growth and other changing space requirements.

The company was formed through the combination of WillScot Corporation and Mobile Mini in 2020, bringing together modular workspace and portable storage operations.