McGrath RentCorp (NASDAQ:MGRC) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.
Zacks has also given McGrath RentCorp an industry rank of 103 out of 255 based on the ratings given to its competitors.
Several research analysts have weighed in on MGRC shares. ValuEngine downgraded shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Finally, Zacks Investment Research cut shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th.
MGRC traded down $0.60 during trading on Thursday, hitting $52.78. The company’s stock had a trading volume of 130,800 shares, compared to its average volume of 125,032. McGrath RentCorp has a one year low of $40.15 and a one year high of $68.79. The company has a market capitalization of $1.32 billion, a PE ratio of 24.84, a PEG ratio of 2.00 and a beta of 0.80.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. McGrath RentCorp had a net margin of 34.37% and a return on equity of 11.91%. The business had revenue of $117.00 million for the quarter, compared to the consensus estimate of $112.69 million. During the same period last year, the firm earned $0.48 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. research analysts expect that McGrath RentCorp will post 2.73 earnings per share for the current year.
In other news, VP John P. Skenesky sold 1,423 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $55.75, for a total value of $79,332.25. Following the completion of the sale, the vice president now directly owns 1,716 shares of the company’s stock, valued at $95,667. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MGRC. Alps Advisors Inc. purchased a new stake in shares of McGrath RentCorp in the first quarter worth $489,000. SG Americas Securities LLC purchased a new position in McGrath RentCorp during the first quarter valued at $195,000. Prudential Financial Inc. grew its stake in McGrath RentCorp by 161.0% during the first quarter. Prudential Financial Inc. now owns 92,727 shares of the financial services provider’s stock valued at $4,979,000 after acquiring an additional 57,199 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in McGrath RentCorp by 52.5% during the first quarter. Campbell & CO Investment Adviser LLC now owns 8,709 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in McGrath RentCorp by 25.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 21,833 shares of the financial services provider’s stock valued at $1,172,000 after acquiring an additional 4,494 shares in the last quarter. 82.92% of the stock is owned by hedge funds and other institutional investors.
McGrath RentCorp Company Profile
McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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