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

McGrath RentCorp (NASDAQ:MGRC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $99.30 on Thursday. The stock has a market cap of $2.44 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.76. McGrath RentCorp has a one year low of $95.50 and a one year high of $130.86. The stock has a fifty day moving average of $105.98 and a 200 day moving average of $109.85.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41). The firm had revenue of $212.60 million for the quarter, compared to analysts’ expectations of $210.23 million. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. As a group, sell-side analysts predict that McGrath RentCorp will post 5.45 EPS for the current fiscal year.

Institutional Trading of McGrath RentCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cim LLC increased its position in McGrath RentCorp by 4.6% in the second quarter. Cim LLC now owns 4,636 shares of the financial services provider’s stock worth $475,000 after buying an additional 205 shares in the last quarter. Algert Global LLC purchased a new stake in McGrath RentCorp in the second quarter worth about $1,665,000. Murchinson Ltd. purchased a new stake in McGrath RentCorp in the second quarter worth about $7,466,000. Susquehanna Fundamental Investments LLC purchased a new stake in McGrath RentCorp in the second quarter worth about $498,000. Finally, The Manufacturers Life Insurance Company increased its position in McGrath RentCorp by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 10,397 shares of the financial services provider’s stock worth $1,108,000 after buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors 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.