McGrath RentCorp (NASDAQ:MGRC) Stock Rating Upgraded by Zacks Research

McGrath RentCorp (NASDAQ:MGRC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Weiss Ratings lowered shares of McGrath RentCorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 30th. Oppenheimer raised their price target on shares of McGrath RentCorp from $139.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $143.00.

McGrath RentCorp Stock Down 1.0%

Shares of McGrath RentCorp stock opened at $110.12 on Thursday. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $129.93. The business has a 50-day moving average price of $104.99 and a 200 day moving average price of $113.98. The firm has a market cap of $2.71 billion, a PE ratio of 18.63, a P/E/G ratio of 1.08 and a beta of 0.50.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.11). The company had revenue of $256.44 million during the quarter, compared to analyst estimates of $266.62 million. McGrath RentCorp had a net margin of 15.62% and a return on equity of 12.59%. McGrath RentCorp’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.87 EPS. On average, sell-side analysts expect that McGrath RentCorp will post 6.18 EPS for the current year.

Insiders Place Their Bets

In other McGrath RentCorp news, SVP Gilda Malek sold 829 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $107.29, for a total value of $88,943.41. Following the completion of the sale, the senior vice president directly owned 4,068 shares in the company, valued at $436,455.72. This represents a 16.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On McGrath RentCorp

A number of hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in McGrath RentCorp during the third quarter worth about $29,000. Cullen Frost Bankers Inc. purchased a new stake in shares of McGrath RentCorp in the 3rd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of McGrath RentCorp by 767.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after buying an additional 238 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in McGrath RentCorp in the second quarter valued at approximately $37,000. Finally, Danske Bank A S purchased a new position in McGrath RentCorp in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

About McGrath RentCorp

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.