McGrath RentCorp (NASDAQ:MGRC – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.
Separately, Oppenheimer started coverage on shares of McGrath RentCorp in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $120.00 price target on the stock.
View Our Latest Analysis on MGRC
McGrath RentCorp Trading Up 1.3 %
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last posted 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 business had revenue of $212.60 million during the quarter, compared to analyst estimates of $210.23 million. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, analysts expect that McGrath RentCorp will post 4.48 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in 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 stake in McGrath RentCorp during the 1st quarter valued at $210,000. Meeder Asset Management Inc. bought a new position in McGrath RentCorp during the first quarter worth $213,000. Finally, Aristides Capital LLC acquired a new position in shares of McGrath RentCorp in the first quarter valued at $239,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.
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.
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