WillScot (WSC) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of WillScot (NASDAQ:WSC) from a hold rating to a buy rating in a report released on Thursday, Zacks.com reports. They currently have $14.00 price target on the stock.
According to Zacks, “Williams Scotsman is a specialty rental services providing modular space and portable storage solutions primarily in North America. It serves the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. Williams Scotsman is headquartered in Baltimore, Maryland. “
Several other equities research analysts have also commented on WSC. Barclays reiterated a hold rating and set a $12.00 price objective on shares of WillScot in a research note on Thursday, January 10th. Bank of America began coverage on WillScot in a research note on Tuesday, April 2nd. They set a buy rating and a $13.50 price objective for the company. Finally, Deutsche Bank cut their price objective on WillScot from $22.00 to $16.00 and set a buy rating for the company in a research note on Friday, January 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $16.64.
WillScot (NASDAQ:WSC) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.17. WillScot had a positive return on equity of 0.41% and a negative net margin of 6.81%. The company had revenue of $257.40 million during the quarter, compared to analyst estimates of $265.49 million. Equities research analysts forecast that WillScot will post 0.2 earnings per share for the current year.
In related news, Director Mark S. Bartlett purchased 35,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was acquired at an average cost of $11.56 per share, for a total transaction of $404,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 66.27% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. purchased a new stake in shares of WillScot in the fourth quarter valued at approximately $33,000. Teachers Advisors LLC grew its position in shares of WillScot by 7.6% in the third quarter. Teachers Advisors LLC now owns 64,749 shares of the company’s stock valued at $1,110,000 after purchasing an additional 4,549 shares in the last quarter. Marshall Wace LLP grew its position in shares of WillScot by 4.9% in the third quarter. Marshall Wace LLP now owns 177,757 shares of the company’s stock valued at $3,049,000 after purchasing an additional 8,237 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in WillScot by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,854 shares of the company’s stock worth $102,000 after acquiring an additional 8,477 shares during the period. Finally, Bank of Montreal Can grew its position in WillScot by 3,531.9% in the fourth quarter. Bank of Montreal Can now owns 9,007 shares of the company’s stock worth $85,000 after acquiring an additional 8,759 shares during the period. Institutional investors and hedge funds own 50.69% of the company’s stock.
WillScot Company Profile
WillScot Corporation, through its subsidiaries, provides various specialty rental services in the United States, Canada, and Mexico. It is involved in the leasing and sale of mobile offices, modular buildings, and storage products. The company offers various modular space units, including panelized and stackable offices, single-wide modular space units, section modulars and redi-plex complexes, classrooms, container offices, and other modular spaces; and portable storage units, such as shipping containers with swing doors.
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