WillScot (WSC) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of WillScot (NASDAQ:WSC) from a hold rating to a buy rating in a research report released on Saturday. Zacks Investment Research currently has $11.00 price target on the stock.

According to Zacks, “Williams Scotsman is a specialty rental services providing modular space and portable storage solutions primarily in North America. It serves the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. Williams Scotsman is headquartered in Baltimore, Maryland. “

WSC has been the subject of several other reports. Barclays initiated coverage on shares of WillScot in a report on Monday, November 19th. They set an equal weight rating and a $18.00 price target for the company. Deutsche Bank cut their price target on shares of WillScot from $22.00 to $16.00 and set a buy rating for the company in a report on Friday, January 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $16.57.

NASDAQ:WSC opened at $10.00 on Friday. The stock has a market cap of $1.07 billion and a PE ratio of -2.57. WillScot has a 52 week low of $8.21 and a 52 week high of $18.19. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 2.26.

In other news, Director Mark S. Bartlett purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The stock was purchased at an average cost of $11.95 per share, with a total value of $298,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 66.27% of the company’s stock.

A number of hedge funds have recently made changes to their positions in WSC. Bank of New York Mellon Corp lifted its holdings in WillScot by 239.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 101,682 shares of the company’s stock valued at $1,505,000 after purchasing an additional 71,731 shares during the last quarter. BlackRock Inc. lifted its holdings in WillScot by 646.4% during the 2nd quarter. BlackRock Inc. now owns 1,865,677 shares of the company’s stock valued at $27,612,000 after purchasing an additional 1,615,731 shares during the last quarter. Bank of America Corp DE bought a new position in WillScot during the 2nd quarter valued at about $120,000. California Public Employees Retirement System bought a new position in WillScot during the 2nd quarter valued at about $229,000. Finally, Northern Trust Corp increased its position in WillScot by 871.1% in the 2nd quarter. Northern Trust Corp now owns 403,353 shares of the company’s stock valued at $5,970,000 after acquiring an additional 361,819 shares in the last quarter. 51.98% of the stock is owned by hedge funds and other institutional investors.

About WillScot

WillScot Corporation, through its subsidiaries, provides various specialty rental services in the United States, Canada, and Mexico. It is involved in the leasing and sale of mobile offices, modular buildings, and storage products. The company offers various modular space units, including panelized and stackable offices, single-wide modular space units, section modulars and redi-plex complexes, classrooms, container offices, and other modular spaces; and portable storage units, such as shipping containers with swing doors.

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