WillScot Mobile Mini (NASDAQ:WSC) Given New $38.00 Price Target at Morgan Stanley

WillScot Mobile Mini (NASDAQ:WSC - Free Report) had its price target lowered by Morgan Stanley from $50.00 to $38.00 in a report issued on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on WSC. Oppenheimer dropped their price target on shares of WillScot Mobile Mini from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Robert W. Baird cut their price target on WillScot Mobile Mini from $38.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Finally, Barclays dropped their price objective on WillScot Mobile Mini from $40.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.50.

WillScot Mobile Mini Stock Performance

WSC traded down $1.07 during midday trading on Wednesday, reaching $22.25. The company had a trading volume of 2,302,900 shares, compared to its average volume of 2,735,818. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a market cap of $4.08 billion, a PE ratio of 148.34, a P/E/G ratio of 2.18 and a beta of 1.25. The business has a 50-day moving average price of $29.83 and a two-hundred day moving average price of $34.20. WillScot Mobile Mini has a 12-month low of $21.91 and a 12-month high of $43.80.

WillScot Mobile Mini (NASDAQ:WSC - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.01. The business had revenue of $602.52 million during the quarter, compared to the consensus estimate of $606.55 million. WillScot Mobile Mini had a return on equity of 24.67% and a net margin of 1.17%. On average, sell-side analysts expect that WillScot Mobile Mini will post 1.77 earnings per share for the current fiscal year.

WillScot Mobile Mini Dividend Announcement

The business also recently declared a -- dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. WillScot Mobile Mini's dividend payout ratio is presently 186.67%.

Insider Activity

In other WillScot Mobile Mini news, Director Erik Olsson sold 110,307 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $30.19, for a total transaction of $3,330,168.33. Following the transaction, the director now directly owns 626,306 shares in the company, valued at $18,908,178.14. This trade represents a 14.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Timothy D. Boswell acquired 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $29.14 per share, with a total value of $145,700.00. Following the purchase, the chief operating officer now directly owns 34,156 shares in the company, valued at $995,305.84. This represents a 17.15 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On WillScot Mobile Mini

A number of large investors have recently bought and sold shares of WSC. Norges Bank purchased a new position in shares of WillScot Mobile Mini in the fourth quarter worth $97,734,000. Franklin Resources Inc. increased its holdings in WillScot Mobile Mini by 34.4% during the 4th quarter. Franklin Resources Inc. now owns 10,314,494 shares of the company's stock valued at $345,020,000 after purchasing an additional 2,639,559 shares during the period. Van Berkom & Associates Inc. purchased a new stake in WillScot Mobile Mini in the 4th quarter worth approximately $58,855,000. Invesco Ltd. raised its holdings in shares of WillScot Mobile Mini by 747.1% during the fourth quarter. Invesco Ltd. now owns 1,820,316 shares of the company's stock valued at $60,890,000 after acquiring an additional 1,605,436 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in WillScot Mobile Mini by 1,246.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,229,196 shares of the company's stock worth $41,117,000 after acquiring an additional 1,137,890 shares during the period. 95.81% of the stock is owned by hedge funds and other institutional investors.

About WillScot Mobile Mini

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.