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

Equities researchers at StockNews.com began coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a report released on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

McGrath RentCorp Stock Down 0.0 %

Shares of MGRC stock opened at $109.92 on Monday. The firm has a market cap of $2.70 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.66 and a beta of 0.82. The business has a 50-day moving average price of $117.28 and a two-hundred day moving average price of $113.83. McGrath RentCorp has a 12-month low of $87.72 and a 12-month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.20. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. The business had revenue of $187.80 million for the quarter, compared to analysts’ expectations of $145.63 million. During the same period last year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts expect that McGrath RentCorp will post 5.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MGRC. Adirondack Trust Co. bought a new position in shares of McGrath RentCorp during the third quarter valued at about $50,000. Global Retirement Partners LLC purchased a new stake in McGrath RentCorp in the 1st quarter worth approximately $66,000. SG Americas Securities LLC bought a new stake in shares of McGrath RentCorp in the 1st quarter worth approximately $171,000. TFG Advisers LLC purchased a new position in shares of McGrath RentCorp during the first quarter valued at approximately $203,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of McGrath RentCorp during the first quarter valued at approximately $210,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

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.