Morgan Stanley Cuts WillScot Mobile Mini (NASDAQ:WSC) Price Target to $38.00

WillScot Mobile Mini (NASDAQ:WSC) had its price objective trimmed by Morgan Stanley from $50.00 to $38.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

WSC has been the subject of a number of other reports. Barclays cut their target price on WillScot Mobile Mini from $40.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. Oppenheimer cut their price objective on shares of WillScot Mobile Mini from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. Finally, Robert W. Baird decreased their target price on shares of WillScot Mobile Mini from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.50.

WillScot Mobile Mini Stock Performance

WSC opened at $23.21 on Wednesday. The firm has a market capitalization of $4.26 billion, a PE ratio of 154.74, a PEG ratio of 2.18 and a beta of 1.25. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 3.42. WillScot Mobile Mini has a twelve month low of $21.91 and a twelve month high of $43.80. The firm’s 50-day moving average price is $30.41 and its 200 day moving average price is $34.44.

WillScot Mobile Mini (NASDAQ:WSC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. WillScot Mobile Mini had a return on equity of 24.67% and a net margin of 1.17%. The business had revenue of $602.52 million during the quarter, compared to analyst estimates of $606.55 million. As a group, sell-side analysts expect that WillScot Mobile Mini will post 1.77 EPS for the current fiscal year.

WillScot Mobile Mini Dividend Announcement

The business also recently announced a — dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 5th. WillScot Mobile Mini’s dividend payout ratio (DPR) is presently 186.67%.

Insider Buying and Selling at WillScot Mobile Mini

In other news, COO Timothy D. Boswell purchased 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $29.14 per share, for a total transaction of $145,700.00. Following the completion of the transaction, the chief operating officer now directly owns 34,156 shares in the company, valued at approximately $995,305.84. This represents a 17.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erik Olsson sold 110,307 shares of WillScot Mobile Mini stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $30.19, for a total value of $3,330,168.33. Following the completion of the sale, the director now directly owns 626,306 shares of the company’s stock, valued at $18,908,178.14. The trade was a 14.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On WillScot Mobile Mini

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of WillScot Mobile Mini by 34.4% during the fourth quarter. Franklin Resources Inc. now owns 10,314,494 shares of the company’s stock worth $345,020,000 after purchasing an additional 2,639,559 shares in the last quarter. William Blair Investment Management LLC increased its stake in WillScot Mobile Mini by 13.6% during the 4th quarter. William Blair Investment Management LLC now owns 5,555,481 shares of the company’s stock worth $185,831,000 after buying an additional 664,805 shares during the period. FMR LLC lifted its holdings in WillScot Mobile Mini by 12.0% during the 4th quarter. FMR LLC now owns 5,554,101 shares of the company’s stock worth $185,785,000 after buying an additional 595,063 shares in the last quarter. Capital International Investors boosted its position in WillScot Mobile Mini by 20.3% in the 4th quarter. Capital International Investors now owns 5,307,738 shares of the company’s stock valued at $177,544,000 after buying an additional 897,184 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of WillScot Mobile Mini by 4.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,832,316 shares of the company’s stock worth $161,641,000 after acquiring an additional 223,462 shares in the last quarter. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

About WillScot Mobile Mini

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.