Research analysts at Oppenheimer assumed coverage on shares of WillScot (NASDAQ:WSC) in a research report issued to clients and investors on Thursday, TipRanks reports. The brokerage set a "buy" rating and a $17.00 price target on the stock. Oppenheimer's target price points to a potential upside of 29.28% from the stock's previous close.
Several other equities analysts also recently issued reports on the stock. Bank of America restated a "buy" rating and set a $17.00 price objective on shares of WillScot in a report on Thursday, May 28th. DA Davidson cut their price target on shares of WillScot from $23.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, March 27th. Stifel Nicolaus started coverage on shares of WillScot in a report on Tuesday. They issued a "buy" rating and a $19.00 price target on the stock. Deutsche Bank started coverage on shares of WillScot in a report on Thursday. They issued a "buy" rating and a $16.00 price target on the stock. Finally, Credit Suisse Group increased their price target on shares of WillScot from $18.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. WillScot presently has a consensus rating of "Buy" and an average target price of $18.13.
WSC opened at $13.15 on Thursday. WillScot has a 52-week low of $7.45 and a 52-week high of $19.79. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 2.39. The company has a market cap of $1.46 billion, a P/E ratio of -328.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.98. The firm's 50-day moving average price is $13.87 and its 200-day moving average price is $14.73.
WillScot (NASDAQ:WSC) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.08 by $0.01. WillScot had a negative net margin of 0.41% and a positive return on equity of 4.36%. The firm had revenue of $255.82 million for the quarter, compared to the consensus estimate of $260.90 million. On average, research analysts anticipate that WillScot will post 0.38 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the company. Two Sigma Advisers LP lifted its position in shares of WillScot by 4.8% during the 1st quarter. Two Sigma Advisers LP now owns 489,200 shares of the company's stock valued at $4,956,000 after buying an additional 22,600 shares in the last quarter. State Street Corp lifted its position in shares of WillScot by 2.3% during the 1st quarter. State Street Corp now owns 1,072,657 shares of the company's stock valued at $10,866,000 after buying an additional 24,112 shares in the last quarter. Rhumbline Advisers lifted its position in shares of WillScot by 2.4% during the 1st quarter. Rhumbline Advisers now owns 67,398 shares of the company's stock valued at $683,000 after buying an additional 1,572 shares in the last quarter. Citigroup Inc. lifted its position in shares of WillScot by 36.5% during the 1st quarter. Citigroup Inc. now owns 29,911 shares of the company's stock valued at $303,000 after buying an additional 8,006 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of WillScot by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,781,702 shares of the company's stock valued at $78,829,000 after buying an additional 34,530 shares in the last quarter. Hedge funds and other institutional investors own 54.85% of the company's stock.
Willscot Corp. operates as a holding company, which engages in the provision of modular space and portable storage markets. Its services include furniture rental, transportation and logistics, storage & facilities services and commercial real estate. The company was founded by Albert Vaughn Williams in 1944 and is headquartered in Baltimore, MD.
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6 Stocks That Will Benefit From a Dovish Federal Reserve
The quaint correction that was labeled the “tech wreck” of 2018 seems like a distant memory to investors. What also seems like a distant memory is any thought of the Federal Reserve raising interest rates.
At the end of 2018, the Federal Reserve had raised its benchmark federal funds rate. With the trade dispute with China dragging on, there was increasing pressure on the Fed to lower interest rates. When interest rates are lower, stocks will generally rise as investors have no other option for growth.
In July 2019, the doves got their wish. But in a move that now seems to be a “what did they know move”, the Fed dropped rates again in October. The market soared to record highs in January and early February. Since mid-February however, the market has fallen dramatically, and the Fed juiced the market one more time by cutting rates down to levels not seen since the financial crisis.
None of us know for sure when the U.S. economy will be opened up. And while stocks are still a good investment, not every stock is a smart investment at this time. But some stocks perform well when interest rates are falling and that’s why we’ve prepared this presentation.
These six stocks stand to benefit from both low-interest rates and the unique economic conditions being brought on by the Covid-19 pandemic.
View the "6 Stocks That Will Benefit From a Dovish Federal Reserve".