McGrath RentCorp (NASDAQ:MGRC) Upgraded to “Buy” at StockNews.com

McGrath RentCorp (NASDAQ:MGRC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other research firms also recently weighed in on MGRC. CJS Securities started coverage on McGrath RentCorp in a report on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price objective for the company. Oppenheimer lifted their price objective on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd.

McGrath RentCorp Trading Down 1.6 %

MGRC stock opened at $122.00 on Friday. The company has a market capitalization of $3.00 billion, a P/E ratio of 12.94, a PEG ratio of 1.35 and a beta of 0.77. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $129.93. The business has a 50 day simple moving average of $118.86 and a 200-day simple moving average of $114.04.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $243.75 million during the quarter, compared to the consensus estimate of $246.93 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. Research analysts predict that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

Insider Activity at McGrath RentCorp

In other McGrath RentCorp news, VP Gilda Malek sold 919 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.78, for a total transaction of $111,915.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Ann Box sold 1,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total transaction of $124,690.00. Following the sale, the director now owns 7,500 shares in the company, valued at $935,175. The trade was a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McGrath RentCorp

Institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of McGrath RentCorp during the 3rd quarter worth $816,000. Asset Management One Co. Ltd. purchased a new stake in shares of McGrath RentCorp during the 4th quarter worth $3,833,000. Sanctuary Advisors LLC acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth $548,000. One Wealth Advisors LLC raised its stake in shares of McGrath RentCorp by 40.1% during the 4th quarter. One Wealth Advisors LLC now owns 16,857 shares of the financial services provider’s stock worth $1,885,000 after buying an additional 4,824 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of McGrath RentCorp by 1,487.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,826 shares of the financial services provider’s stock worth $312,000 after buying an additional 2,648 shares during the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.