WillScot (NASDAQ:WSC) Coverage Initiated at UBS Group

Key Points

• UBS initiated coverage on WillScot with a "neutral" rating and a $19.00 price target, implying about a 1.6% downside from the prior close.
• Consensus from other analysts is a "Hold" (3 Buys, 7 Holds, 1 Sell) with a consensus price target of $23.50, creating a notable divergence from UBS's $19 target.
• WillScot recently reported quarterly EPS of $0.29 (missed by $0.04) while revenue beat at $565.97M; the company shows a negative net margin and high leverage (debt-to-equity ~4.15) as the stock trades near $19.32 (market cap ~$3.49B).

Stock analysts at UBS Group assumed coverage on shares of WillScot (NASDAQ:WSC - Get Free Report) in a note issued to investors on Wednesday. The firm set a "neutral" rating and a $19.00 price target on the stock. UBS Group's price objective would indicate a potential downside of 1.63% from the stock's previous close.

A number of other brokerages have also commented on WSC. Morgan Stanley boosted their target price on WillScot from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. William Blair reaffirmed a "market perform" rating on shares of WillScot in a research report on Thursday, March 5th. Zacks Research raised WillScot from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. Citigroup decreased their target price on WillScot from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Monday, March 9th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $23.00 target price (up from $22.00) on shares of WillScot in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $23.50.

WillScot Stock Up 5.8%

Shares of NASDAQ:WSC opened at $19.32 on Wednesday. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -65.04, a P/E/G ratio of 1.26 and a beta of 1.16. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.78. The business's 50-day moving average is $19.89 and its 200-day moving average is $20.26. WillScot has a 1 year low of $14.91 and a 1 year high of $31.88.

WillScot (NASDAQ:WSC - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.04). WillScot had a negative net margin of 2.32% and a positive return on equity of 20.42%. The business had revenue of $565.97 million during the quarter, compared to analyst estimates of $545.34 million. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts predict that WillScot will post 1.77 earnings per share for the current year.

Institutional Trading of WillScot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSC. Hsbc Holdings PLC grew its holdings in shares of WillScot by 494.6% in the fourth quarter. Hsbc Holdings PLC now owns 56,917 shares of the company's stock valued at $1,073,000 after acquiring an additional 47,344 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of WillScot by 78.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,575 shares of the company's stock valued at $105,000 after acquiring an additional 2,447 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of WillScot in the fourth quarter valued at approximately $71,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of WillScot by 334.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company's stock valued at $103,988,000 after acquiring an additional 4,250,951 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of WillScot by 8.3% in the fourth quarter. Invesco Ltd. now owns 3,070,588 shares of the company's stock valued at $57,819,000 after acquiring an additional 235,954 shares in the last quarter. 95.81% of the stock is owned by institutional investors.

WillScot Company Profile

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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