WillScot Mobile Mini (NASDAQ:WSC) Shares Gap Down After Earnings Miss

WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)’s stock price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. 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 trading hands.

The company reported $0.38 earnings per share 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 net margin of 7.77% and a return on equity of 24.27%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays downgraded WillScot Mobile Mini from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $50.00 to $44.00 in a research note on Thursday, September 19th. DA Davidson dropped their price objective on shares of WillScot Mobile Mini from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Oppenheimer lowered their target price on WillScot Mobile Mini from $53.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Bank of America dropped their price target on WillScot Mobile Mini from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird reduced their price target on WillScot Mobile Mini from $42.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, WillScot Mobile Mini currently has a consensus rating of “Hold” and an average target price of $45.40.

Insider Activity at WillScot Mobile Mini

In related news, CEO Bradley Lee Soultz purchased 5,000 shares of WillScot Mobile Mini stock in a transaction dated Wednesday, September 18th. The shares were bought at an average cost 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 trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On WillScot Mobile Mini

Several large investors have recently modified their holdings of the business. Bislett Management LLC grew its stake in WillScot Mobile Mini by 3.1% in the 3rd quarter. Bislett Management LLC now owns 1,170,000 shares of the company’s stock valued at $43,992,000 after purchasing an additional 35,000 shares during the period. River Road Asset Management LLC boosted its holdings in WillScot Mobile Mini by 4.7% during the 3rd quarter. River Road Asset Management LLC now owns 1,409,803 shares of the company’s stock valued at $53,009,000 after acquiring an additional 63,752 shares during the period. Cannon Global Investment Management LLC bought a new stake in shares of WillScot Mobile Mini in the 3rd quarter worth approximately $564,000. Empire Life Investments Inc. grew its position in shares of WillScot Mobile Mini by 50.8% in the 3rd quarter. Empire Life Investments Inc. now owns 547,751 shares of the company’s stock worth $20,595,000 after buying an additional 184,577 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in WillScot Mobile Mini by 64.0% in the third quarter. Harbor Capital Advisors Inc. now owns 80,903 shares of the company’s stock worth $3,042,000 after buying an additional 31,557 shares during the last quarter. Institutional investors own 95.81% of the company’s stock.

WillScot Mobile Mini Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 2.88. The stock has a market capitalization of $6.61 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.25 and a beta of 1.35. The business has a fifty day moving average price of $38.10 and a 200-day moving average price of $38.33.

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.