Zacks Investment Research Downgrades Mobile Mini, Inc. (MINI) to Sell
Mobile Mini, Inc. (NASDAQ:MINI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
According to Zacks, “Mobile Mini, Inc. provides attractive, accessible temporary storage for a diversified customer, including Wal-Mart, Motorola, Frito Lay, Holiday Inns, Target, numerous municipalities and the Department of Defense. They offer a wide range of products in varying lengths and widths with an assortment of differentiated features such as their patented security systems, multiple doors, electrical wiring and shelving. In addition to their leasing operations, they sell new and used portable storage units and provide other ancillary services. “
Several other research firms also recently issued reports on MINI. BidaskClub upgraded shares of Mobile Mini from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Mobile Mini in a report on Friday, September 1st. Finally, Robert W. Baird set a $34.00 price objective on shares of Mobile Mini and gave the company a “hold” rating in a report on Sunday, September 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.75.
Mobile Mini (MINI) traded up 0.78% during mid-day trading on Thursday, reaching $32.25. 131,662 shares of the company’s stock were exchanged. Mobile Mini has a one year low of $23.40 and a one year high of $37.05. The company’s 50-day moving average is $30.58 and its 200 day moving average is $29.65. The firm has a market capitalization of $1.42 billion, a P/E ratio of 28.02 and a beta of 2.22.
Mobile Mini (NASDAQ:MINI) last announced its earnings results on Friday, July 21st. The industrial products company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). The firm had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.03 million. Mobile Mini had a return on equity of 7.52% and a net margin of 10.03%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Equities analysts predict that Mobile Mini will post $1.21 earnings per share for the current fiscal year.
In related news, insider Mark Funk sold 36,080 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $30.34, for a total value of $1,094,667.20. Following the sale, the insider now owns 170,291 shares in the company, valued at $5,166,628.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence Trachtenberg sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $31.59, for a total value of $315,900.00. Following the completion of the sale, the director now owns 38,181 shares in the company, valued at approximately $1,206,137.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,065 shares of company stock worth $4,832,212. Corporate insiders own 6.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in Mobile Mini in the first quarter valued at approximately $117,000. Foresters Investment Management Company Inc. boosted its position in Mobile Mini by 6.5% in the first quarter. Foresters Investment Management Company Inc. now owns 4,900 shares of the industrial products company’s stock valued at $149,000 after buying an additional 300 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Mobile Mini in the second quarter valued at approximately $152,000. Trexquant Investment LP purchased a new stake in Mobile Mini in the second quarter valued at approximately $206,000. Finally, Eqis Capital Management Inc. purchased a new stake in Mobile Mini in the second quarter valued at approximately $209,000.
About Mobile Mini
Mobile Mini, Inc is a provider of portable storage solutions. The Company, through its subsidiary, Evergreen Tank Solutions, Inc (ETS), is a provider of specialty containment solutions in the United States. The Company manages its business as two portable storage solutions business segments, North America and the U.K., and one specialty containment business segment.
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