WillScot (NASDAQ:WSC) Price Target Lowered to $22.00 at Barclays

Key Points

• Barclays has lowered its price target for WillScot to $22.00, down from $34.00, while maintaining an "equal weight" rating on the stock.
• The company's recent quarterly earnings reported $0.27 per share, missing analysts' expectations, with revenue slightly above forecasts but down 2.6% year-over-year.
• Despite the price target reduction, the consensus rating for WillScot among analysts remains "Hold" with a target price of $34.00.

WillScot (NASDAQ:WSC - Get Free Report) had its target price cut by stock analysts at Barclays from $34.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's target price would indicate a potential upside of 0.27% from the stock's previous close.

Several other research analysts also recently commented on WSC. DA Davidson dropped their price objective on shares of WillScot from $45.00 to $40.00 and set a "buy" rating for the company in a report on Friday, August 1st. Morgan Stanley reduced their price objective on shares of WillScot from $39.00 to $37.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, William Blair reissued a "market perform" rating on shares of WillScot in a research report on Thursday, May 29th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $34.00.

WillScot Stock Performance

WSC stock opened at $21.94 on Wednesday. The stock has a market capitalization of $3.99 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. WillScot has a 12-month low of $21.90 and a 12-month high of $42.15. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.55. The stock's 50 day simple moving average is $25.51 and its 200 day simple moving average is $26.73.

WillScot (NASDAQ:WSC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.09). The company had revenue of $589.08 million for the quarter, compared to analysts' expectations of $587.07 million. WillScot had a net margin of 4.66% and a return on equity of 24.83%. WillScot's quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. WillScot has set its FY 2025 guidance at EPS. As a group, research analysts forecast that WillScot will post 1.77 earnings per share for the current fiscal year.

Insider Activity at WillScot

In other news, CEO Bradley Lee Soultz acquired 2,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of $24.85 per share, with a total value of $49,700.00. Following the transaction, the chief executive officer owned 418,376 shares in the company, valued at approximately $10,396,643.60. This trade represents a 0.48% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Hezron T. Lopez sold 22,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $24.63, for a total transaction of $541,860.00. Following the completion of the sale, the executive vice president directly owned 54,038 shares in the company, valued at approximately $1,330,955.94. This represents a 28.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WillScot

A number of large investors have recently modified their holdings of WSC. Baillie Gifford & Co. purchased a new stake in shares of WillScot in the 1st quarter valued at approximately $145,392,000. Norges Bank purchased a new position in shares of WillScot in the 2nd quarter valued at $125,126,000. Vanguard Group Inc. grew its position in shares of WillScot by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 18,338,511 shares of the company's stock valued at $509,811,000 after buying an additional 1,924,653 shares during the last quarter. HG Vora Capital Management LLC purchased a new position in shares of WillScot in the 1st quarter valued at $38,920,000. Finally, River Road Asset Management LLC boosted its stake in WillScot by 75.6% during the 2nd quarter. River Road Asset Management LLC now owns 2,873,521 shares of the company's stock worth $84,338,000 after purchasing an additional 1,237,097 shares during the period. 95.81% of the stock is owned by hedge funds and other institutional investors.

WillScot Company Profile

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.

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