Mobile Mini, Inc. (NASDAQ:MINI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “
Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Mobile Mini from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Robert W. Baird set a $34.00 price target on shares of Mobile Mini and gave the company a “hold” rating in a research report on Sunday, September 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Mobile Mini in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $34.75.
Mobile Mini (NASDAQ:MINI) opened at 32.25 on Thursday. The company has a market cap of $1.42 billion, a P/E ratio of 28.02 and a beta of 2.22. Mobile Mini has a 1-year low of $23.40 and a 1-year high of $37.05. The stock’s 50 day moving average is $30.58 and its 200 day moving average is $29.65.
Mobile Mini (NASDAQ:MINI) last announced its quarterly earnings results on Friday, July 21st. The industrial products company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.02). The firm had revenue of $126.70 million for the quarter, compared to analysts’ expectations of $126.03 million. Mobile Mini had a net margin of 10.03% and a return on equity of 7.52%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. Equities analysts anticipate that Mobile Mini will post $1.21 earnings per share for the current fiscal year.
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In related news, CFO Mark Funk sold 16,339 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $30.42, for a total value of $497,032.38. Following the completion of the transaction, the chief financial officer now directly owns 170,291 shares in the company, valued at approximately $5,180,252.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Trachtenberg sold 10,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00. Following the completion of the transaction, the director now owns 38,181 shares of the company’s stock, valued at $1,206,137.79. The disclosure for this sale can be found here. Insiders sold a total of 156,065 shares of company stock valued at $4,832,212 over the last 90 days. Company insiders own 6.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Miles Capital Inc. increased its stake in shares of Mobile Mini by 0.3% in the 1st quarter. Miles Capital Inc. now owns 7,121 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 19 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Mobile Mini by 0.5% in the 2nd quarter. Bank of Montreal Can now owns 27,772 shares of the industrial products company’s stock worth $829,000 after acquiring an additional 148 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Mobile Mini by 0.9% in the 1st quarter. Arizona State Retirement System now owns 23,061 shares of the industrial products company’s stock worth $703,000 after acquiring an additional 200 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Mobile Mini by 0.7% in the 2nd quarter. Texas Permanent School Fund now owns 32,274 shares of the industrial products company’s stock worth $963,000 after acquiring an additional 214 shares in the last quarter. Finally, Foresters Investment Management Company Inc. increased its stake in shares of Mobile Mini by 6.5% in the 1st quarter. Foresters Investment Management Company Inc. now owns 4,900 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 300 shares in the last quarter.
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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