McGrath RentCorp (NASDAQ:MGRC) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $120.00 price target on the financial services provider’s stock. Oppenheimer’s price target indicates a potential upside of 8.40% from the company’s previous close.

Separately, StockNews.com raised McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th.

McGrath RentCorp Trading Up 0.8 %

Shares of MGRC opened at $110.70 on Wednesday. The company’s fifty day simple moving average is $105.69 and its 200 day simple moving average is $109.43. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $130.86. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.47 and a beta of 0.76.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41). McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The firm had revenue of $212.60 million during the quarter, compared to the consensus estimate of $210.23 million. During the same period in the previous year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that McGrath RentCorp will post 5.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of McGrath RentCorp during the first quarter worth approximately $171,000. TFG Advisers LLC bought a new stake in McGrath RentCorp in the 1st quarter valued at $203,000. J.W. Cole Advisors Inc. acquired a new position in McGrath RentCorp in the 1st quarter valued at $210,000. Meeder Asset Management Inc. bought a new position in McGrath RentCorp during the 1st quarter worth $213,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in McGrath RentCorp during the 4th quarter worth $217,000. 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.