WillScot (NASDAQ:WSC) Stock Jumps 8.5% - Time to Buy?

Key Points

• WillScot shares jumped 8.5% to about $19.90, but trading volume was 88% below the average session level.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $24.86, with three Buy, six Hold, and one Sell rating.
• The company beat quarterly estimates, reporting $0.28 in EPS and $612.15 million in revenue, while maintaining a quarterly dividend of $0.07 per share; however, leverage remains high with a debt-to-equity ratio of 3.80.

WillScot Holdings Corporation (NASDAQ:WSC - Get Free Report) traded up 8.5% during mid-day trading on Monday. The company traded as high as $19.78 and last traded at $19.9020. Approximately 295,531 shares were traded during mid-day trading, a decline of 88% from the average session volume of 2,449,304 shares. The stock had previously closed at $18.34.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WSC. Barclays lifted their price target on WillScot from $24.00 to $26.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. UBS Group lowered their price objective on WillScot from $29.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, October 16th. Weiss Ratings reissued a "sell (d)" rating on shares of WillScot in a report on Monday, August 17th. Robert W. Baird decreased their price objective on WillScot from $28.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, October 12th. Finally, Citigroup cut their price objective on WillScot from $30.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, WillScot has an average rating of "Hold" and a consensus target price of $24.86.

WillScot Trading Up 7.5%

The business's fifty day moving average is $18.24 and its 200-day moving average is $21.88. The firm has a market cap of $3.57 billion, a P/E ratio of -51.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.40. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.74 and a current ratio of 0.81.

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, topping analysts' consensus estimates of $0.25 by $0.03. The business had revenue of $612.15 million for the quarter, compared to the consensus estimate of $585.43 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. Analysts predict that WillScot Holdings Corporation will post 1.13 EPS for the current year.

WillScot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 2nd. WillScot's payout ratio is currently -73.68%.

Hedge Funds Weigh In On WillScot

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC increased its holdings in shares of WillScot by 390.6% in the 2nd quarter. Tidal Investments LLC now owns 129,595 shares of the company's stock valued at $3,740,000 after acquiring an additional 103,178 shares during the last quarter. Hsbc Holdings PLC increased its position in WillScot by 494.6% during the fourth quarter. Hsbc Holdings PLC now owns 56,917 shares of the company's stock worth $1,073,000 after buying an additional 47,344 shares in the last quarter. Nykredit A S acquired a new stake in WillScot during the second quarter worth approximately $54,063,000. Turtle Creek Asset Management Inc. boosted its holdings in shares of WillScot by 27.3% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 7,870,039 shares of the company's stock valued at $136,624,000 after purchasing an additional 1,686,077 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of WillScot during the 2nd quarter valued at $1,453,000. 95.81% of the stock is currently owned by institutional investors.

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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