Morgan Stanley Issues Positive Forecast for WillScot Mobile Mini (NASDAQ:WSC) Stock Price

WillScot Mobile Mini (NASDAQ:WSC - Get Free Report) had its price target upped by Morgan Stanley from $38.00 to $39.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 35.12% from the stock's previous close.

WSC has been the topic of several other research reports. Barclays reduced their price objective on shares of WillScot Mobile Mini from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Oppenheimer dropped their price objective on shares of WillScot Mobile Mini from $41.00 to $38.00 and set an "outperform" rating for the company in a research note on Monday, March 10th. Finally, Robert W. Baird reduced their target price on WillScot Mobile Mini from $38.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.63.

WillScot Mobile Mini Stock Performance

NASDAQ:WSC traded up $1.93 during midday trading on Monday, reaching $28.86. The stock had a trading volume of 1,104,430 shares, compared to its average volume of 2,696,755. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 3.42. The stock has a market cap of $5.30 billion, a P/E ratio of 192.38, a P/E/G ratio of 2.18 and a beta of 1.28. The firm has a fifty day simple moving average of $26.80 and a two-hundred day simple moving average of $32.97. 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 posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). WillScot Mobile Mini had a net margin of 1.17% and a return on equity of 24.67%. The business had revenue of $559.55 million during the quarter, compared to analyst estimates of $555.51 million. During the same period in the prior year, the business earned $0.29 earnings per share. The firm's quarterly revenue was down 4.7% compared to the same quarter last year. On average, equities analysts expect that WillScot Mobile Mini will post 1.77 EPS for the current year.

Insider Activity

In other news, COO Timothy D. Boswell bought 5,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $29.14 per share, with a total value of $145,700.00. Following the transaction, the chief operating officer now owns 34,156 shares of the company's stock, valued at $995,305.84. This trade represents a 17.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bradley Lee Soultz bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $26.79 per share, with a total value of $267,900.00. Following the purchase, the chief executive officer now directly owns 128,817 shares of the company's stock, valued at $3,451,007.43. This trade represents a 8.42% increase in their ownership of the stock. 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 hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. purchased a new position in shares of WillScot Mobile Mini during the 1st quarter valued at $145,392,000. Norges Bank purchased a new stake in WillScot Mobile Mini in the 4th quarter worth approximately $97,734,000. Franklin Resources Inc. boosted its position 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 acquiring an additional 2,639,559 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of WillScot Mobile Mini by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 18,338,511 shares of the company's stock valued at $509,811,000 after purchasing an additional 1,924,653 shares during the period. Finally, Van Berkom & Associates Inc. bought a new position in WillScot Mobile Mini in the fourth quarter worth $58,855,000. 95.81% of the stock is owned by hedge funds and other institutional investors.

WillScot Mobile Mini 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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