McGrath RentCorp (NASDAQ:MGRC) Stock Rating Lowered by StockNews.com

McGrath RentCorp (NASDAQ:MGRC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

MGRC has been the topic of several other reports. Oppenheimer increased their price target on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. CJS Securities began coverage on McGrath RentCorp in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price objective on the stock.

McGrath RentCorp Stock Performance

Shares of MGRC stock opened at $127.18 on Thursday. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The stock has a market capitalization of $3.12 billion, a PE ratio of 13.49, a PEG ratio of 1.25 and a beta of 0.77. The stock’s fifty day moving average is $117.76 and its 200-day moving average is $112.93.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 14.12%. As a group, analysts forecast that McGrath RentCorp will post 6.4 earnings per share for the current fiscal year.

Insider Transactions at McGrath RentCorp

In related news, VP Gilda Malek sold 919 shares of McGrath RentCorp stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.78, for a total transaction of $111,915.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McGrath RentCorp

Hedge funds have recently added to or reduced their stakes in the stock. Eminence Capital LP bought a new stake in shares of McGrath RentCorp in the 4th quarter valued at about $83,898,000. River Road Asset Management LLC grew its holdings in McGrath RentCorp by 52.1% during the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock valued at $212,116,000 after purchasing an additional 649,567 shares during the period. Franklin Resources Inc. increased its stake in McGrath RentCorp by 57.3% in the third quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider’s stock valued at $119,456,000 after purchasing an additional 404,884 shares in the last quarter. Walleye Capital LLC acquired a new stake in McGrath RentCorp in the third quarter worth $15,967,000. Finally, Raymond James Financial Inc. bought a new position in shares of McGrath RentCorp during the fourth quarter worth $13,179,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.