McGrath RentCorp (NASDAQ:MGRC) Research Coverage Started at StockNews.com

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

McGrath RentCorp Trading Up 2.2 %

Shares of NASDAQ:MGRC opened at $111.71 on Friday. The firm’s 50 day moving average is $119.70 and its two-hundred day moving average is $113.41. The firm has a market capitalization of $2.74 billion, a P/E ratio of 21.78, a PEG ratio of 1.55 and a beta of 0.80. McGrath RentCorp has a 52 week low of $86.26 and a 52 week high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.73 by $0.20. McGrath RentCorp had a return on equity of 13.56% and a net margin of 14.70%. The firm had revenue of $187.80 million for the quarter, compared to analysts’ expectations of $145.63 million. During the same period last year, the firm earned $0.89 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. Analysts predict that McGrath RentCorp will post 5.42 EPS for the current year.

Institutional Trading of McGrath RentCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp during the third quarter valued at approximately $732,000. Dakota Wealth Management bought a new stake in shares of McGrath RentCorp in the 3rd quarter worth $272,000. Bank of New York Mellon Corp lifted its holdings in shares of McGrath RentCorp by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 171,517 shares of the financial services provider’s stock valued at $17,193,000 after buying an additional 1,351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of McGrath RentCorp by 30.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the financial services provider’s stock valued at $584,000 after buying an additional 1,349 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in McGrath RentCorp by 14.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,126 shares of the financial services provider’s stock valued at $1,216,000 after buying an additional 1,574 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors.

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.