WillScot (NASDAQ:WSC) Stock Crosses Above 50-Day Moving Average - Here's Why

Key Points

• WillScot shares rose above their 50-day moving average, reaching $18.68 and last trading at $18.57 on volume of about 3.19 million shares.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating, with three Buy, six Hold and one Sell rating, and an average price target of $24.86.
• WillScot exceeded quarterly expectations, reporting $0.28 in earnings per share and $612.15 million in revenue, while paying a quarterly dividend of $0.07; institutional investors own 95.81% of the stock.

Shares of WillScot Holdings Corporation (NASDAQ:WSC - Get Free Report) passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $18.32 and traded as high as $18.68. WillScot shares last traded at $18.57, with a volume of 3,189,444 shares trading hands.

Analyst Upgrades and Downgrades

WSC has been the subject of a number of analyst reports. Robert W. Baird decreased their price objective on shares of WillScot from $28.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, October 12th. UBS Group dropped their target price on shares of WillScot from $29.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, October 16th. Citigroup dropped their target price on shares of WillScot from $30.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Barclays raised their target price on shares of WillScot from $24.00 to $26.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of WillScot in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $24.86.

WillScot Price Performance

The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.74 and a current ratio of 0.81. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -48.87, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. The business has a fifty day moving average of $18.32 and a two-hundred day moving average of $21.90.

WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $585.43 million. During the same quarter in the prior year, the business earned $0.27 EPS. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts predict that WillScot Holdings Corporation will post 1.13 EPS for the current fiscal year.

WillScot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, September 2nd. WillScot's payout ratio is currently -73.68%.

Institutional Trading of WillScot

Hedge funds have recently modified their holdings of the stock. Ancora Advisors LLC bought a new stake in shares of WillScot during the 2nd quarter worth about $43,000. Signaturefd LLC grew its stake in WillScot by 73.6% in the 3rd quarter. Signaturefd LLC now owns 1,746 shares of the company's stock valued at $30,000 after buying an additional 740 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in WillScot by 620.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,758 shares of the company's stock valued at $30,000 after acquiring an additional 1,514 shares during the period. Parallel Advisors LLC raised its holdings in WillScot by 96.3% in the 1st quarter. Parallel Advisors LLC now owns 4,051 shares of the company's stock valued at $70,000 after acquiring an additional 1,987 shares during the period. Finally, Leonteq Securities AG raised its holdings in WillScot by 23.1% in the 1st quarter. Leonteq Securities AG now owns 4,476 shares of the company's stock valued at $78,000 after acquiring an additional 841 shares during the period. Institutional investors and hedge funds own 95.81% of the company's stock.

About WillScot

WillScot Holdings Corporation NASDAQ: WSC provides flexible workspace and storage solutions primarily to customers across North America. The company offers modular buildings, mobile offices, portable classrooms, storage units and other temporary or permanent space solutions for businesses, schools, construction sites, health care organizations, government agencies and other institutions.

In addition to renting and selling modular space and portable storage products, WillScot provides related services such as delivery, installation, relocation, site improvements, furnishings and facility services.

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