DA Davidson Cuts WillScot (NASDAQ:WSC) Price Target to $35.00

Key Points

• DA Davidson has lowered its price target for WillScot (NASDAQ:WSC) from $40.00 to $35.00, while maintaining a "buy" rating, indicating a potential upside of 70.7% from its previous close.
• Several other analysts have also adjusted their price targets, with Barclays reducing theirs from $34.00 to $22.00 and Morgan Stanley from $39.00 to $37.00.
• WillScot's recent quarterly earnings revealed an EPS of $0.27, missing analyst expectations of $0.36, while its revenue of $589.08 million slightly exceeded expectations.

WillScot (NASDAQ:WSC - Get Free Report) had its price objective lowered by investment analysts at DA Davidson from $40.00 to $35.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's target price suggests a potential upside of 70.70% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Barclays cut their target price on shares of WillScot from $34.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 24th. Morgan Stanley dropped their target price on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Jefferies Financial Group decreased their price objective on shares of WillScot from $32.00 to $23.00 and set a "hold" rating for the company in a report on Monday. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $32.13.

WillScot Price Performance

Shares of WSC traded down $0.21 on Tuesday, reaching $20.50. The stock had a trading volume of 244,481 shares, compared to its average volume of 2,586,476. The firm has a market capitalization of $3.73 billion, a PE ratio of 34.08, a PEG ratio of 1.84 and a beta of 1.14. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 3.55. The firm has a 50-day moving average of $24.77 and a 200 day moving average of $26.46. WillScot has a twelve month low of $20.08 and a twelve month high of $42.15.

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

Insider Activity

In other WillScot news, EVP Hezron T. Lopez sold 22,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $24.63, for a total transaction of $541,860.00. Following the sale, the executive vice president owned 54,038 shares in the company, valued at $1,330,955.94. This represents a 28.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bradley Lee Soultz purchased 3,000 shares of WillScot stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average cost of $25.35 per share, with a total value of $76,050.00. Following the completion of the acquisition, the chief executive officer directly owned 126,817 shares in the company, valued at approximately $3,214,810.95. This trade represents a 2.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WillScot

Institutional investors and hedge funds have recently modified their holdings of the stock. Caxton Associates LLP increased its stake in shares of WillScot by 63.8% in the second quarter. Caxton Associates LLP now owns 49,149 shares of the company's stock worth $1,347,000 after purchasing an additional 19,149 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of WillScot by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 621,808 shares of the company's stock valued at $17,038,000 after buying an additional 35,846 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of WillScot by 0.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 185,701 shares of the company's stock valued at $5,092,000 after buying an additional 714 shares during the period. Corient Private Wealth LLC boosted its stake in WillScot by 52.4% in the 2nd quarter. Corient Private Wealth LLC now owns 40,664 shares of the company's stock worth $1,114,000 after purchasing an additional 13,973 shares during the period. Finally, State of Tennessee Department of Treasury boosted its stake in shares of WillScot by 50.4% during the 2nd quarter. State of Tennessee Department of Treasury now owns 66,599 shares of the company's stock worth $1,825,000 after buying an additional 22,304 shares during the last quarter. Institutional investors and hedge funds 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.

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