WillScot Mobile Mini Holdings Corp. ( WSC Quick Quote WSC - Free Report) recently acquired McDonald Modular Solutions. The company funded the transaction through cash on hand and borrowings under revolving credit agreement. The acquisition has added approximately 1,300 modular units and more than 300 storage units to the company’s existing markets in Michigan and Ohio. Brad Soultz, its chief executive officer, said, “This transaction expands our presence and capabilities in the greater Midwest region. Consistent with our M&A strategy, we look forward to providing our ‘Ready to Work’ value proposition to new customers and applying our commercial and organizational best practices, while leveraging our scalable technology platform. Thank you to both our new and existing team members who are now working together to integrate our operations.” Price Performance
Shares of Zacks Rank #2 (Buy) WillScot Mobile Mini have surged 73.8% in the past year compared with the Zacks
Furniture industry’s 15.5% rally. The company is benefiting from continuous product innovation, solid segmental results and transformation of the legacy WillScot business into Mobile Mini's SAP platform. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Image Source: Zacks Investment Research
In September, it acquired three regional storage service companies — American Mobile Leasing, Inc., Equipe Container Services, d/b/a Moveable Container Storage and Saf-T-Box, LP.
In third-quarter 2021, the company invested $56.3 million in three acquisitions and closed an acquisition of Sommer’s Mobile Leasing, Inc. in October. Recently, it acquired the assets of Portable Storage Corporation in Los Angeles and rental assets of Hecht Trailers in New Jersey. Improved housing market fundamentals in the United States make the company’s near-term outlook encouraging. Historically-low mortgage rates have been driving new home sales, which in turn will drive demand for furniture products in the near term. Other Top-Ranked Stocks in the Construction Sector Beazer Homes USA, Inc. ( BZH Quick Quote BZH - Free Report) currently sports a Zacks Rank #1. This Atlanta-based homebuilder continues to gain from strong operational execution and persistent strength in the housing market. Beazer Homes’ shares have gained 44.1% in the past year compared with the industry’s 33.4% rally. Earnings are expected to rise 23.7% in fiscal 2022. TRI Pointe Group Inc. ( TPH Quick Quote TPH - Free Report) currently sports a Zacks Rank #1. This Irvine, CA-based homebuilder designs, constructs, and sells single-family detached and attached homes in the United States. Robust demand and pricing as well as improved operating leverage, have been driving TRI Pointe's performance. Cost-cutting initiatives implemented earlier this year and focus on entry-level buyers have been adding to the positives. TRI Pointe’s shares have surged 56% in the past year. Earnings for 2021 and 2022 are expected to rise 80.2% and 9.6%, respectively. Meritage Homes Corporation ( MTH Quick Quote MTH - Free Report) currently sports a Zacks Rank #1. Based in Scottsdale, AZ, Meritage Homes is one of the leading designers and builders of single-family homes. Its focus on entry-level LiVE.NOW homes has been a major driving factor. MTH has gained 35.5% in the past year. Earnings are expected to increase 74.4% in 2021 and 22.2% in the next year.