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

StockNews.com upgraded shares of McGrath RentCorp (NASDAQ:MGRC) from a sell rating to a hold rating in a research note released on Tuesday.

McGrath RentCorp Stock Performance

Shares of NASDAQ MGRC opened at $101.88 on Tuesday. McGrath RentCorp has a 52-week low of $95.71 and a 52-week high of $130.86. The stock has a market cap of $2.50 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.53 and a beta of 0.77. The firm has a 50 day moving average price of $106.75 and a 200 day moving average price of $111.46.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.41). The firm had revenue of $212.60 million during the quarter, compared to analyst estimates of $210.23 million. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. McGrath RentCorp’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. Analysts predict that McGrath RentCorp will post 4.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new stake in McGrath RentCorp in the 1st quarter valued at $66,000. SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp during the first quarter worth about $171,000. TFG Advisers LLC bought a new position in shares of McGrath RentCorp during the first quarter worth about $203,000. J.W. Cole Advisors Inc. acquired a new stake in McGrath RentCorp in the 1st quarter valued at approximately $210,000. Finally, Meeder Asset Management Inc. acquired a new stake in McGrath RentCorp in the 1st quarter valued at approximately $213,000. 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.