Needham & Company Reiterates a 'Hold' on Mobile Mini (MINI); Reports Slightly Mixed Results, Outlook Continues To Improve, But Valuation Appears Full

Needham & Company reiterates a 'Hold' on Mobile Mini (NASDAQ: MINI).

Needham analyst says, "Overall, MINI is slowly seeing demand improvement across many of its business areas. While utilization and EBITDA margins remain below more historical levels, we believe the company is moving in the right direction. However, with shares currently trading at what we deem to be fair valuation (~20x our C12 EPS and over 10x C12 on EV/EBITDA basis)."

"Adjusting Model: Our 2Q est. of $86.0M in revs., $33.7M EBITDA, & $0.16 EPS now $85.8M, $33.1M, & $0.16. Our ‘11 est. largely unchanged at $355M, $143M EBITDA, and $0.78 non-GAAP."

For more ratings news on Mobile Mini click here and for the rating history of Mobile Mini click here.

Shares of Mobile Mini closed at $23.56 yesterday.

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