WillScot Mobile Mini (NASDAQ:WSC) Shares Down 2.6%

WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)’s share price fell 2.6% during trading on Thursday . The company traded as low as $38.15 and last traded at $38.15. 330,469 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,002,157 shares. The stock had previously closed at $39.17.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WSC. Bank of America decreased their price target on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Oppenheimer decreased their price target on WillScot Mobile Mini from $53.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. DA Davidson decreased their price target on WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Barclays cut WillScot Mobile Mini from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $50.00 to $44.00 in a research note on Thursday. Finally, Stifel Nicolaus reduced their target price on WillScot Mobile Mini from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.90.

WillScot Mobile Mini Stock Performance

The company has a market capitalization of $7.36 billion, a PE ratio of 24.18, a PEG ratio of 1.36 and a beta of 1.36. The company has a 50 day moving average of $38.18 and a two-hundred day moving average of $39.86. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.91 and a quick ratio of 0.83.

WillScot Mobile Mini (NASDAQ:WSC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). WillScot Mobile Mini had a return on equity of 24.27% and a net margin of 7.77%. The firm had revenue of $604.59 million during the quarter, compared to analysts’ expectations of $614.85 million. During the same period in the previous year, the company earned $0.43 earnings per share. WillScot Mobile Mini’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that WillScot Mobile Mini Holdings Corp. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Bradley Lee Soultz bought 5,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of $38.97 per share, with a total value of $194,850.00. Following the completion of the acquisition, the chief executive officer now owns 149,686 shares of the company’s stock, valued at approximately $5,833,263.42. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its holdings in WillScot Mobile Mini by 149.9% in the fourth quarter. Franklin Resources Inc. now owns 6,751,072 shares of the company’s stock valued at $300,423,000 after acquiring an additional 4,049,872 shares during the period. Baupost Group LLC MA purchased a new stake in WillScot Mobile Mini in the second quarter worth about $92,971,000. William Blair Investment Management LLC increased its position in WillScot Mobile Mini by 102.9% in the second quarter. William Blair Investment Management LLC now owns 4,643,901 shares of the company’s stock worth $174,796,000 after buying an additional 2,355,445 shares in the last quarter. Norges Bank purchased a new stake in WillScot Mobile Mini in the fourth quarter worth about $101,809,000. Finally, Boston Partners increased its position in WillScot Mobile Mini by 66.0% in the first quarter. Boston Partners now owns 5,434,288 shares of the company’s stock worth $251,118,000 after buying an additional 2,159,958 shares in the last quarter. 95.81% of the stock is owned by 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.