WillScot (NASDAQ:WSC) Sees Large Volume Increase – Here’s Why

WillScot Holdings Corporation (NASDAQ:WSC) shares saw unusually-strong trading volume on Friday . Approximately 5,201,883 shares changed hands during mid-day trading, an increase of 126% from the previous session’s volume of 2,304,726 shares.The stock last traded at $21.82 and had previously closed at $22.00.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WSC. Barclays upped their price objective on shares of WillScot from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Morgan Stanley boosted their target price on WillScot from $23.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Citigroup increased their price target on WillScot from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of WillScot in a research report on Monday, August 17th. Finally, Oppenheimer reissued an “outperform” rating and issued a $29.00 price objective on shares of WillScot in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.50.

WillScot Stock Performance

The company has a debt-to-equity ratio of 3.80, a current ratio of 0.81 and a quick ratio of 0.74. The firm has a market capitalization of $4.01 billion, a P/E ratio of -58.26, a P/E/G ratio of 1.30 and a beta of 1.33. The stock’s 50 day moving average is $26.05 and its two-hundred day moving average is $23.29.

WillScot (NASDAQ:WSC) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. WillScot had a negative net margin of 3.00% and a positive return on equity of 21.62%. The business had revenue of $612.15 million for the quarter, compared to analyst estimates of $585.43 million. During the same period in the prior year, the business posted $0.27 earnings per share. WillScot’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that WillScot Holdings Corporation will post 1.12 earnings per share for the current fiscal year.

WillScot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. WillScot’s dividend payout ratio is -73.68%.

Institutional Investors Weigh In On WillScot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WSC. Ancora Advisors LLC acquired a new position in WillScot in the second quarter valued at about $43,000. Parallel Advisors LLC increased its stake in shares of WillScot by 149.9% in the 4th quarter. Parallel Advisors LLC now owns 2,064 shares of the company’s stock valued at $39,000 after acquiring an additional 1,238 shares during the last quarter. CWM LLC raised its position in shares of WillScot by 37.7% in the 4th quarter. CWM LLC now owns 2,071 shares of the company’s stock valued at $39,000 after acquiring an additional 567 shares during the period. Danske Bank A S bought a new position in WillScot during the 3rd quarter worth approximately $44,000. Finally, CIBC Private Wealth Group LLC grew its holdings in WillScot by 130.3% during the third quarter. CIBC Private Wealth Group LLC now owns 2,766 shares of the company’s stock valued at $58,000 after purchasing an additional 1,565 shares during the period. Institutional investors own 95.81% of the company’s stock.

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.