StockNews.com Initiates Coverage on McGrath RentCorp (NASDAQ:MGRC)

Investment analysts at StockNews.com began coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a research note issued to investors on Friday. The firm set a “hold” rating on the financial services provider’s stock.

McGrath RentCorp Price Performance

NASDAQ MGRC opened at $105.06 on Friday. The firm has a market cap of $2.58 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.46 and a beta of 0.77. The stock’s 50-day moving average is $107.74 and its 200-day moving average is $115.35. McGrath RentCorp has a one year low of $88.63 and a one year high of $130.86.

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

Institutional Investors Weigh In On McGrath RentCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swedbank AB acquired a new stake in McGrath RentCorp in the 1st quarter valued at approximately $14,804,000. Virtu Financial LLC acquired a new position in shares of McGrath RentCorp during the 1st quarter worth approximately $3,350,000. Janus Henderson Group PLC increased its position in shares of McGrath RentCorp by 343.4% during the 1st quarter. Janus Henderson Group PLC now owns 48,852 shares of the financial services provider’s stock worth $6,025,000 after purchasing an additional 37,834 shares during the last quarter. Aristides Capital LLC acquired a new position in shares of McGrath RentCorp during the 1st quarter worth approximately $239,000. Finally, Magnetar Financial LLC acquired a new position in shares of McGrath RentCorp during the 1st quarter worth approximately $84,042,000. 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.