Oppenheimer Remains Outperform On Mobile Mini Shares, $51 PT
In a research report issued today, analyst Scott Schneeberger of Oppenheimer maintained an Outperform rating on Mobile Mini (NASDAQ:MINI) with a $51 price target.
Schneeberger noted, “MINI outperformed our 3Q14 leasing revenue/adj’d EBITDA/adj’d EPS estimates, which instilled confidence and refocused investors on the company’s promising up- cycle rebound/strategic repositioning/FCF generation (27% of revenue in the quarter) story. MINI continued to garner sizable rate increases (new units/overall +11.5%/8% y/ y, respectively), and importantly swung adj’d EBITDA margin to y/y expansion in 3Q14 (quarter ahead of our expectation). Utilization/volume growth, which had tempered investors’ outlook in 2Q14, was still turning a corner in 3Q14, but importantly appeared to improve throughout the quarter with management providing sales force productivity improvement metrics sufficient to help investors view the April sales reorganization as on the mend. Margin expansion should also result via reduced expense initiative headwinds going forward now.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Schneeberger has a total average return of 17.2% and a 72.1% success rate. Schneeberger has a 12.6% average return when recommending MINI, and is ranked #177 out of 3347 analysts.