WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC - Get Free Report)'s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $38.88, but opened at $34.00. WillScot Mobile Mini shares last traded at $34.37, with a volume of 3,267,090 shares traded.
The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.10). WillScot Mobile Mini had a return on equity of 24.27% and a net margin of 7.77%. The firm had revenue of $601.43 million for the quarter, compared to analyst estimates of $617.83 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm's quarterly revenue was down .6% on a year-over-year basis.
Analyst Ratings Changes
Several brokerages recently commented on WSC. Barclays cut shares of WillScot Mobile Mini from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $50.00 to $44.00 in a report on Thursday, September 19th. Robert W. Baird lowered their target price on WillScot Mobile Mini from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report on Thursday. Oppenheimer reduced their price target on WillScot Mobile Mini from $53.00 to $46.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. DA Davidson lowered their price target on WillScot Mobile Mini from $54.00 to $47.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Finally, Stifel Nicolaus cut their price objective on WillScot Mobile Mini from $48.00 to $46.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $45.40.
Read Our Latest Stock Analysis on WSC
Insider Transactions at WillScot Mobile Mini
In related news, CEO Bradley Lee Soultz purchased 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of $38.97 per share, for a total transaction of $194,850.00. Following the purchase, the chief executive officer now owns 149,686 shares in the company, valued at approximately $5,833,263.42. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On WillScot Mobile Mini
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baupost Group LLC MA acquired a new stake in shares of WillScot Mobile Mini in the second quarter valued at about $92,971,000. William Blair Investment Management LLC raised its holdings in WillScot Mobile Mini by 102.9% during the 2nd quarter. William Blair Investment Management LLC now owns 4,643,901 shares of the company's stock worth $174,796,000 after purchasing an additional 2,355,445 shares during the last quarter. Swedbank AB lifted its position in shares of WillScot Mobile Mini by 229.2% in the 3rd quarter. Swedbank AB now owns 3,226,000 shares of the company's stock worth $121,298,000 after purchasing an additional 2,246,000 shares during the period. Boston Partners lifted its position in shares of WillScot Mobile Mini by 66.0% in the 1st quarter. Boston Partners now owns 5,434,288 shares of the company's stock worth $251,118,000 after purchasing an additional 2,159,958 shares during the period. Finally, Capital Research Global Investors boosted its position in WillScot Mobile Mini by 112.0% during the first quarter. Capital Research Global Investors now owns 3,906,011 shares of the company's stock valued at $181,630,000 after acquiring an additional 2,063,746 shares during the last quarter. 95.81% of the stock is owned by institutional investors.
WillScot Mobile Mini Stock Performance
The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.25 and a beta of 1.35. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a fifty day simple moving average of $38.10 and a two-hundred day simple moving average of $38.33.
About WillScot Mobile Mini
(
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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.
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