WillScot Target of Unusually High Options Trading (NASDAQ:WSC)

Key Points

• Unusually high options activity: Traders purchased 2,372 WillScot call options, 88% above the average volume of 1,262 contracts.
• Quarterly results exceeded expectations: WillScot reported earnings of $0.28 per share versus the $0.25 consensus estimate, while revenue rose 3.9% year over year to $612.15 million.
• Analyst sentiment remains mixed: The stock has an average “Hold” rating and a $26.50 price target, compared with a recent share price of $19.44; institutional investors own 95.81% of the company.

WillScot Holdings Corporation (NASDAQ:WSC - Get Free Report) was the target of some unusual options trading on Thursday. Stock traders purchased 2,372 call options on the stock. This is an increase of 88% compared to the average volume of 1,262 call options.

WillScot Price Performance

Shares of NASDAQ WSC traded down $0.14 during midday trading on Thursday, reaching $19.44. 302,300 shares of the stock traded hands, compared to its average volume of 2,320,115. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.81 and a quick ratio of 0.74. The stock has a market capitalization of $3.52 billion, a PE ratio of -51.22, a P/E/G ratio of 1.15 and a beta of 1.31. WillScot has a one year low of $14.91 and a one year high of $29.77. The company's 50 day moving average is $24.83 and its 200 day moving average is $23.28.

WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%.The business had revenue of $612.15 million during the quarter, compared to analyst estimates of $585.43 million. During the same period last year, the company earned $0.27 EPS. The company's revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts anticipate that WillScot will post 1.12 earnings per share for the current year.

WillScot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. WillScot's dividend payout ratio (DPR) is -73.68%.

Analyst Ratings Changes

A number of research firms recently issued reports on WSC. Weiss Ratings reissued a "sell (d)" rating on shares of WillScot in a report on Monday, August 17th. Wall Street Zen raised WillScot from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Oppenheimer reissued an "outperform" rating and set a $29.00 price target on shares of WillScot in a report on Friday, May 8th. Robert W. Baird set a $26.00 price target on WillScot in a research report on Friday, May 8th. Finally, Barclays raised their price objective on WillScot from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.50.

Hedge Funds Weigh In On WillScot

Large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its position in shares of WillScot by 24.6% during the first quarter. Royal Bank of Canada now owns 33,684 shares of the company's stock worth $936,000 after purchasing an additional 6,651 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of WillScot by 1.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 724,638 shares of the company's stock worth $20,145,000 after purchasing an additional 8,963 shares in the last quarter. Creative Planning grew its stake in WillScot by 6.9% during the 2nd quarter. Creative Planning now owns 15,814 shares of the company's stock worth $433,000 after buying an additional 1,024 shares during the last quarter. American Century Companies Inc. grew its stake in WillScot by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 46,781 shares of the company's stock worth $1,282,000 after buying an additional 1,374 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in WillScot by 48.8% during the 2nd quarter. Hsbc Holdings PLC now owns 11,676 shares of the company's stock valued at $320,000 after buying an additional 3,827 shares in the last quarter. Institutional investors own 95.81% of the company's stock.

About WillScot

WillScot NASDAQ: WSC is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.

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