Robert W. Baird Has Lowered Expectations for WillScot (NASDAQ:WSC) Stock Price

Key Points

• Robert W. Baird lowered WillScot’s price target from $28 to $21 while maintaining a “neutral” rating. The new target implies approximately 23% upside from the stock’s $17.07 opening price.
• Analyst sentiment remains mixed, with three Buy ratings, six Holds and one Sell; the overall consensus is “Hold,” with an average price target of $26.29.
• WillScot exceeded quarterly expectations, reporting $0.28 in EPS versus the $0.25 consensus and revenue of $612.15 million versus $585.43 million expected. Revenue increased 3.9% year over year.

WillScot (NASDAQ:WSC - Get Free Report) had its price objective decreased by research analysts at Robert W. Baird from $28.00 to $21.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's target price suggests a potential upside of 23.02% from the stock's current price.

Other analysts also recently issued reports about the company. Citigroup lifted their target price on WillScot from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Weiss Ratings reissued a "sell (d)" rating on shares of WillScot in a research note on Monday, August 17th. Finally, Barclays upped their price target on shares of WillScot from $24.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $26.29.

WillScot Stock Performance

Shares of NASDAQ WSC opened at $17.07 on Monday. WillScot has a fifty-two week low of $14.91 and a fifty-two week high of $29.77. 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 company has a market cap of $3.09 billion, a price-to-earnings ratio of -44.92, a PEG ratio of 0.99 and a beta of 1.40. The business's 50 day moving average price is $20.27 and its 200-day moving average price is $22.87.

WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. The company had revenue of $612.15 million during the quarter, compared to analysts' expectations of $585.43 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%. WillScot's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. On average, sell-side analysts expect that WillScot will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in WillScot by 11.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,826 shares of the company's stock worth $168,000 after acquiring an additional 577 shares in the last quarter. Leonteq Securities AG increased its position in WillScot by 23.1% during the 1st quarter. Leonteq Securities AG now owns 4,476 shares of the company's stock valued at $78,000 after purchasing an additional 841 shares during the period. Empowered Funds LLC raised its holdings in shares of WillScot by 2.2% in the 1st quarter. Empowered Funds LLC now owns 61,390 shares of the company's stock valued at $1,066,000 after purchasing an additional 1,306 shares in the last quarter. Ancora Advisors LLC bought a new stake in shares of WillScot in the 2nd quarter valued at about $43,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of WillScot by 620.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,758 shares of the company's stock valued at $30,000 after purchasing an additional 1,514 shares in the last quarter. Institutional investors own 95.81% of the company's stock.

About WillScot

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.

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