WillScot Mobile Mini (NASDAQ:WSC) Stock Price Down 2.6%

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays downgraded WillScot Mobile Mini from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $50.00 to $44.00 in a research report on Thursday. DA Davidson dropped their target price on shares of WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating for the company in a report on Monday, August 5th. Bank of America decreased their price target on shares of WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus dropped their price objective on shares of WillScot Mobile Mini from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Oppenheimer decreased their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.90.

WillScot Mobile Mini Price Performance

The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 1.36 and a beta of 1.36. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 2.88. The business’s 50-day simple moving average is $38.23 and its two-hundred day simple moving average is $39.80.

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

Insider Activity

In related news, CEO Bradley Lee Soultz bought 5,000 shares of the business’s stock in a transaction that occurred 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 purchase, the chief executive officer now directly owns 149,686 shares in the company, valued at $5,833,263.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP bought a new position in WillScot Mobile Mini during the fourth quarter valued at about $2,268,000. Norden Group LLC increased its stake in shares of WillScot Mobile Mini by 2,181.8% during the 1st quarter. Norden Group LLC now owns 129,330 shares of the company’s stock worth $6,014,000 after purchasing an additional 123,662 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in shares of WillScot Mobile Mini in the 4th quarter worth approximately $14,196,000. Sei Investments Co. lifted its stake in WillScot Mobile Mini by 74.4% in the first quarter. Sei Investments Co. now owns 640,720 shares of the company’s stock valued at $29,793,000 after purchasing an additional 273,431 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in WillScot Mobile Mini by 1,480.8% during the fourth quarter. Bank of Nova Scotia now owns 169,308 shares of the company’s stock valued at $7,534,000 after purchasing an additional 158,598 shares during the period. 95.81% of the stock is owned by institutional investors and hedge funds.

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.