McGrath RentCorp (NASDAQ:MGRC) Upgraded at StockNews.com

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

McGrath RentCorp Stock Down 1.1 %

McGrath RentCorp stock opened at $102.37 on Tuesday. The firm has a 50-day moving average price of $106.88 and a two-hundred day moving average price of $111.71. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.53 and a beta of 0.77. McGrath RentCorp has a 52-week low of $95.71 and a 52-week high of $130.86.

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

Institutional Trading of McGrath RentCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB raised its holdings in shares of McGrath RentCorp by 66.7% during the second quarter. Swedbank AB now owns 200,000 shares of the financial services provider’s stock valued at $21,310,000 after acquiring an additional 80,000 shares during the period. Trexquant Investment LP bought a new stake in McGrath RentCorp in the 4th quarter valued at $1,460,000. Quantbot Technologies LP bought a new stake in McGrath RentCorp in the 1st quarter valued at $1,008,000. Vaughan Nelson Investment Management L.P. boosted its holdings in McGrath RentCorp by 26.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 486,190 shares of the financial services provider’s stock valued at $51,803,000 after purchasing an additional 100,210 shares during the period. Finally, AdvisorShares Investments LLC acquired a new position in shares of McGrath RentCorp in the 4th quarter valued at $3,432,000. 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.