WillScot Mobile Mini (NASDAQ:WSC) Shares Gap Up – Here’s Why

WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $36.64, but opened at $39.19. WillScot Mobile Mini shares last traded at $38.27, with a volume of 848,886 shares.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WSC shares. Morgan Stanley upgraded shares of WillScot Mobile Mini from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $50.00 in a research report on Tuesday, December 17th. Baird R W cut WillScot Mobile Mini from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Robert W. Baird dropped their target price on WillScot Mobile Mini from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Barclays lowered their price objective on shares of WillScot Mobile Mini from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut shares of WillScot Mobile Mini from a “buy” rating to a “hold” rating and cut their target price for the stock from $46.00 to $35.00 in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.50.

WillScot Mobile Mini Stock Performance

The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.82 and a current ratio of 0.90. The firm has a market cap of $7.10 billion, a P/E ratio of 349.97, a P/E/G ratio of 1.90 and a beta of 1.40. The company’s 50 day moving average is $35.71 and its 200 day moving average is $37.19.

WillScot Mobile Mini (NASDAQ:WSC) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.10). The business had revenue of $601.43 million for the quarter, compared to analyst estimates of $617.83 million. WillScot Mobile Mini had a return on equity of 23.97% and a net margin of 1.05%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, equities analysts predict that WillScot Mobile Mini Holdings Corp. will post 1.53 earnings per share for the current fiscal year.

Insider Activity

In other WillScot Mobile Mini news, EVP Hezron T. Lopez sold 20,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $39.38, for a total transaction of $787,600.00. Following the completion of the sale, the executive vice president now owns 57,918 shares in the company, valued at approximately $2,280,810.84. The trade was a 25.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sally J. Shanks sold 14,059 shares of WillScot Mobile Mini stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.69, for a total transaction of $487,706.71. Following the transaction, the chief accounting officer now owns 26,113 shares of the company’s stock, valued at $905,859.97. This represents a 35.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 15,000 shares of company stock valued at $533,900 and have sold 36,959 shares valued at $1,382,636. 3.30% of the stock is owned by company insiders.

Institutional Trading of WillScot Mobile Mini

Several institutional investors and hedge funds have recently modified their holdings of WSC. V Square Quantitative Management LLC bought a new position in WillScot Mobile Mini during the 3rd quarter valued at $25,000. Hexagon Capital Partners LLC increased its stake in WillScot Mobile Mini by 200.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 900 shares of the company’s stock valued at $34,000 after buying an additional 600 shares during the last quarter. Financial Management Professionals Inc. bought a new position in shares of WillScot Mobile Mini during the 3rd quarter worth approximately $36,000. First Horizon Advisors Inc. increased its position in shares of WillScot Mobile Mini by 16.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,138 shares of the company’s stock valued at $80,000 after purchasing an additional 302 shares during the last quarter. Finally, KBC Group NV boosted its stake in WillScot Mobile Mini by 14.7% in the third quarter. KBC Group NV now owns 5,110 shares of the company’s stock valued at $192,000 after acquiring an additional 655 shares during the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.

WillScot Mobile Mini 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.