WillScot Holdings Corporation (NASDAQ:WSC - Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 13,660,000 shares, anincreaseof14,960.6% from the June 30th total of 90,700 shares. Currently,7.7% of the company's shares are sold short. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is presently 7.5 days. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is presently 7.5 days. Currently,7.7% of the company's shares are sold short.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on WSC shares. William Blair reiterated a "market perform" rating on shares of WillScot in a report on Thursday, May 29th. Morgan Stanley raised their target price on WillScot from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Barclays lowered their target price on WillScot from $40.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.63.
View Our Latest Stock Analysis on WillScot
Insiders Place Their Bets
In other WillScot news, CEO Bradley Lee Soultz purchased 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $26.79 per share, for a total transaction of $267,900.00. Following the acquisition, the chief executive officer owned 128,817 shares in the company, valued at $3,451,007.43. This trade represents a 8.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dominick P. Zarcone purchased 10,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were acquired at an average price of $26.19 per share, with a total value of $261,900.00. Following the completion of the acquisition, the director owned 15,384 shares in the company, valued at approximately $402,906.96. This trade represents a 185.74% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank grew its stake in WillScot by 444.7% during the 1st quarter. Amalgamated Bank now owns 56,374 shares of the company's stock worth $1,567,000 after buying an additional 46,024 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of WillScot by 273.2% in the 1st quarter. GAMMA Investing LLC now owns 933 shares of the company's stock valued at $26,000 after purchasing an additional 683 shares during the last quarter. KBC Group NV grew its stake in shares of WillScot by 16.7% in the 1st quarter. KBC Group NV now owns 9,166 shares of the company's stock valued at $255,000 after purchasing an additional 1,312 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of WillScot in the 1st quarter valued at approximately $1,148,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of WillScot in the 1st quarter valued at approximately $10,987,000. Hedge funds and other institutional investors own 95.81% of the company's stock.
WillScot Stock Down 13.0%
WSC stock traded down $3.83 during mid-day trading on Friday, reaching $25.53. The company had a trading volume of 6,594,600 shares, compared to its average volume of 2,656,053. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.76 and a current ratio of 0.83. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 284.28, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24. The firm has a fifty day simple moving average of $28.53 and a 200 day simple moving average of $29.93. WillScot has a fifty-two week low of $21.91 and a fifty-two week high of $42.15.
WillScot (NASDAQ:WSC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.09). The company had revenue of $589.08 million during the quarter, compared to analyst estimates of $587.07 million. WillScot had a net margin of 0.63% and a return on equity of 26.28%. WillScot's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 EPS. Analysts forecast that WillScot will post 1.77 earnings per share for the current fiscal year.
WillScot Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. WillScot's dividend payout ratio is presently 311.11%.
WillScot Company Profile
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider WillScot, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and WillScot wasn't on the list.
While WillScot currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report