WillScot Corporation Receives a Rating Update from a Top Analyst

In a report released today, Scott Schneeberger from Oppenheimer maintained a Buy rating on WillScot Corporation (NASDAQ: WSC), with a price target of $15. The company’s shares closed on Friday at $12.60.

Schneeberger observed:

“WSC started 2018 strong via 1Q18 revenue/EBITDA growing 36%/32% y/y, respectively, with recent Acton Mobile/Tyson Onsite acquisitions augmenting solid organic revenue growth of 12% y/y. US modular space pro forma units on rent (volume) growth continued to accelerate y/y (2.9% y/y in 1Q18 vs. 2.5%/2.0% y/y in 4Q17/3Q17), and pro forma average monthly rental rate increased nearly 10% y/y for the second consecutive quarter driven by rate increases/VAPS penetration. Maintaining our 2018/2019 EBITDA estimates, we anticipate mid-single-digit-plus organic revenue/low-double-digit organic adjusted EBITDA growth over the coming two years, with the recent acquisitions particularly augmenting y/y growth in 2018. We also view the company as well positioned to derive significant M&A synergies as the clear consolidator in its fragmented market. We’re reiterating our Outperform rating/ $15 target.”

According to TipRanks.com, Schneeberger is a top 100 analyst with an average return of 14.2% and a 69.1% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, Landstar System Inc, and General Finance.

WillScot Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $15.50.

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Willscot Corp. is a holding company, which engages in the provision of modular space and portable storage markets. Its services include furniture rental, transportation and logistics, facilities services, and commercial real estate. The company was founded on November 29, 2017 and is headquartered in Baltimore, MD.