WillScot downgraded to Market Perform from Outperform at William Blair

William Blair downgraded WillScot (WSC) to Market Perform from Outperform without a price target While the company’s outlook largely contemplated softer non-residential construction activity during the fiscal first quarter, April Dodge starts seem to indicate that the Q1 weakness has now carried into Q2, the analyst tells investors in a research note. The firm says WillScot’s reiterated full-year outlook on its recent Q1 earnings call contemplates a more normalized seasonal cadence in non-residential construction activity beginning in Q2. Blair believes weaker construction activity in April along with continued macroeconomic uncertainty likely points toward the lower end of management’s full-year guidance range.