Oppenheimer analyst Scott Schneeberger reiterated a Buy rating on WillScot Corporation (WSC) yesterday and set a price target of $18. The company’s shares closed yesterday at $11.28.
Schneeberger wrote:
“WSC is poised to deliver significant 2019 growth and margin expansion via continued solid business conditions and ModSpace acquisition integration synergies. The company delivered a strong 2018 via hearty organic rental revenue growth and ~a third of a year of ModSpace contribution. With continued rental rate discipline/ growth and progressive financial contribution from ModSpace synergies over 2019, we anticipate the company makes good on its guidance of 2019 pro forma margin expansion of ~500bps y/y. We’re maintaining our 2019E and 2020E adjusted EBITDA of $346M (+61% y/y; +22% pro forma y/y; guidance maintained at $345-$365M) and $422M (+22% y/y), respectively, with both having the potential to ultimately prove conservative. We’re reiterating our Outperform rating and $18 price target.”
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 7.2% and a 61.6% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, General Finance, and XPO Logistics.
Currently, the analyst consensus on WillScot Corporation is a Strong Buy with an average price target of $16.
See today’s analyst top recommended stocks >>
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Willscot Corp. operates as a holding company, which engages in the provision of modular space and portable storage markets. Its services include furniture rental, transportation and logistics, storage & facilities services and commercial real estate. The company was founded by Albert Vaughn Williams in 1944 and is headquartered in Baltimore, MD.
