WillScot (NASDAQ:WSC) Now Covered by Citigroup

Key Points

• Citigroup has initiated coverage on WillScot (NASDAQ:WSC) with a "buy" rating and a price target of $28.00, suggesting a potential upside of 30.11% from its current price.
• Shares of WillScot have decreased by 3.2%, currently trading at $21.52, with a 12-month range between $20.08 and $42.15.
• WillScot reported a net margin of 4.66% and earnings per share of $0.27 for the last quarter, falling short of analysts' expectations.

Analysts at Citigroup assumed coverage on shares of WillScot (NASDAQ:WSC - Get Free Report) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a "buy" rating and a $28.00 price target on the stock. Citigroup's price objective would suggest a potential upside of 30.11% from the company's current price.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a "sell (d+)" rating on shares of WillScot in a research note on Wednesday, October 8th. Barclays lowered their target price on shares of WillScot from $34.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 24th. DA Davidson lowered their target price on shares of WillScot from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, September 30th. Robert W. Baird lowered their target price on shares of WillScot from $29.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, UBS Group set a $35.00 target price on shares of WillScot in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $30.89.

WillScot Stock Down 3.2%

Shares of NASDAQ:WSC traded down $0.71 during midday trading on Monday, hitting $21.52. 953,491 shares of the company's stock were exchanged, compared to its average volume of 2,557,042. WillScot has a 12 month low of $20.08 and a 12 month high of $42.15. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.81 and a quick ratio of 0.74. The stock has a 50 day moving average price of $22.85 and a 200-day moving average price of $25.70. The company has a market cap of $3.92 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.05 and a beta of 1.10.

WillScot (NASDAQ:WSC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.09). WillScot had a net margin of 4.66% and a return on equity of 24.83%. The company had revenue of $589.08 million for the quarter, compared to the consensus estimate of $587.07 million. During the same period in the prior year, the company earned $0.39 earnings per share. The firm's revenue was down 2.6% on a year-over-year basis. WillScot has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that WillScot will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling at WillScot

In related news, EVP Hezron T. Lopez sold 22,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total transaction of $541,860.00. Following the transaction, the executive vice president owned 54,038 shares of the company's stock, valued at approximately $1,330,955.94. This trade represents a 28.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bradley Lee Soultz bought 2,000 shares of WillScot stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average cost of $24.85 per share, for a total transaction of $49,700.00. Following the acquisition, the chief executive officer owned 418,376 shares in the company, valued at $10,396,643.60. The trade was a 0.48% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On WillScot

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of WillScot by 273.2% during the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after purchasing an additional 683 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of WillScot by 428.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,384 shares of the company's stock valued at $38,000 after purchasing an additional 1,122 shares during the last quarter. CWM LLC grew its holdings in shares of WillScot by 89.9% during the 1st quarter. CWM LLC now owns 1,747 shares of the company's stock valued at $49,000 after purchasing an additional 827 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of WillScot by 45.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,130 shares of the company's stock valued at $58,000 after purchasing an additional 662 shares during the last quarter. Finally, Quarry LP bought a new stake in WillScot in the 1st quarter worth $80,000. Institutional investors own 95.81% of the company's stock.

WillScot Company Profile

WillScot Holdings Corporation provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers.