William Blair analyst Tim Mulrooney has maintained their neutral stance on WSC stock, giving a Hold rating on October 20.
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Tim Mulrooney’s rating is based on a combination of factors related to the performance of WillScot Mobile Mini Holdings. The company’s recent results were positive in September, showing a year-over-year increase in nonresidential construction square-footage starts by 6%. However, despite this improvement, the third quarter results were flat on a quarter-over-quarter basis, which is slightly below the historical seasonal average.
Mulrooney’s Hold rating reflects a cautious stance due to the mixed signals in the construction market. While the monthly and year-over-year figures show growth, the flat quarterly performance and the overall year-to-date decline of 5% in square-footage starts suggest potential challenges ahead. This combination of positive short-term results and uncertain longer-term trends likely influenced the decision to maintain a Hold rating.
In another report released on October 20, Robert W. Baird also maintained a Hold rating on the stock with a $25.00 price target.