WillScot (NASDAQ:WSC) Announces Quarterly Earnings Results

WillScot (NASDAQ:WSC) issued its quarterly earnings data on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03, FiscalAI reports. WillScot had a positive return on equity of 20.65% and a negative net margin of 2.99%.The company had revenue of $612.15 million for the quarter, compared to analyst estimates of $585.43 million.

WillScot Stock Performance

Shares of NASDAQ:WSC traded down $0.74 on Thursday, reaching $25.82. The company’s stock had a trading volume of 2,927,583 shares, compared to its average volume of 2,221,644. WillScot has a 52-week low of $14.91 and a 52-week high of $29.77. The stock has a market capitalization of $4.67 billion, a P/E ratio of -67.95, a PEG ratio of 1.59 and a beta of 1.33. The stock’s 50-day moving average is $26.83 and its two-hundred day moving average is $23.13. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.79 and a quick ratio of 0.72.

Insider Activity

In related news, Director Bradley Lee Soultz sold 86,421 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $26.99, for a total value of $2,332,502.79. Following the transaction, the director owned 197,595 shares in the company, valued at $5,333,089.05. The trade was a 30.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 155,781 shares of company stock worth $4,205,113 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Trading of WillScot

Hedge funds have recently added to or reduced their stakes in the stock. Xponance LLC grew its position in shares of WillScot by 3.5% during the 4th quarter. Xponance LLC now owns 14,245 shares of the company’s stock worth $268,000 after purchasing an additional 478 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in WillScot by 0.4% during the second quarter. CANADA LIFE ASSURANCE Co now owns 185,701 shares of the company’s stock worth $5,092,000 after buying an additional 714 shares in the last quarter. Quadrant Capital Group LLC increased its stake in WillScot by 23.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,013 shares of the company’s stock worth $76,000 after acquiring an additional 768 shares during the period. Creative Planning raised its holdings in WillScot by 6.9% in the 2nd quarter. Creative Planning now owns 15,814 shares of the company’s stock valued at $433,000 after acquiring an additional 1,024 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of WillScot by 1.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 83,105 shares of the company’s stock valued at $2,277,000 after acquiring an additional 1,188 shares during the period. 95.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WSC has been the subject of a number of research analyst reports. Robert W. Baird set a $26.00 target price on WillScot in a research report on Friday, May 8th. Barclays lifted their price target on WillScot from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, May 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of WillScot in a research note on Wednesday, May 20th. UBS Group started coverage on WillScot in a report on Wednesday, April 8th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Citigroup raised their target price on shares of WillScot from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.25.

About WillScot

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.