McGrath RentCorp (NASDAQ:MGRC) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a research report issued on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

McGrath RentCorp Price Performance

Shares of NASDAQ:MGRC opened at $106.55 on Thursday. The stock has a market cap of $2.62 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.48 and a beta of 0.79. The firm has a fifty day moving average price of $108.04 and a 200 day moving average price of $115.58. McGrath RentCorp has a 1-year low of $88.63 and a 1-year high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. The firm had revenue of $187.80 million during the quarter, compared to analysts’ expectations of $145.63 million. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. McGrath RentCorp’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. Sell-side analysts expect that McGrath RentCorp will post 5.5 EPS for the current fiscal year.

Institutional Trading of McGrath RentCorp

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of McGrath RentCorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,691,278 shares of the financial services provider’s stock worth $321,931,000 after acquiring an additional 11,280 shares during the period. Capital Research Global Investors lifted its stake in shares of McGrath RentCorp by 67.6% in the 1st quarter. Capital Research Global Investors now owns 784,021 shares of the financial services provider’s stock worth $96,725,000 after acquiring an additional 316,292 shares during the period. Wellington Management Group LLP lifted its stake in shares of McGrath RentCorp by 24.2% in the 4th quarter. Wellington Management Group LLP now owns 771,261 shares of the financial services provider’s stock worth $92,258,000 after acquiring an additional 150,253 shares during the period. Magnetar Financial LLC acquired a new stake in shares of McGrath RentCorp in the 1st quarter worth $84,042,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of McGrath RentCorp by 82.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 385,980 shares of the financial services provider’s stock worth $47,619,000 after acquiring an additional 174,240 shares during the period. Institutional investors and hedge funds own 92.05% of the company’s stock.

About McGrath RentCorp

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.