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

McGrath RentCorp (NASDAQ:MGRC) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

MGRC has been the subject of a number of other reports. CJS Securities began coverage on shares of McGrath RentCorp in a report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price objective for the company. Oppenheimer raised their target price on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

McGrath RentCorp Price Performance

Shares of MGRC stock traded up $5.11 on Thursday, hitting $128.96. 331,248 shares of the stock traded hands, compared to its average volume of 140,338. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.56. The firm has a 50 day simple moving average of $117.76 and a two-hundred day simple moving average of $112.93. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.23 and a beta of 0.77.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. McGrath RentCorp had a return on equity of 13.64% and a net margin of 25.29%. The business had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. Sell-side analysts forecast that McGrath RentCorp will post 5.5 EPS for the current year.

Insiders Place Their Bets

In other news, VP Gilda Malek sold 919 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.78, for a total value of $111,915.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of McGrath RentCorp by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider’s stock valued at $304,836,000 after purchasing an additional 29,467 shares during the last quarter. River Road Asset Management LLC lifted its position in McGrath RentCorp by 52.1% in the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock worth $212,116,000 after buying an additional 649,567 shares during the last quarter. Franklin Resources Inc. lifted its position in McGrath RentCorp by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider’s stock worth $134,091,000 after buying an additional 87,329 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in McGrath RentCorp by 11.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 917,631 shares of the financial services provider’s stock worth $102,610,000 after buying an additional 97,290 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in McGrath RentCorp by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 788,760 shares of the financial services provider’s stock valued at $88,198,000 after acquiring an additional 50,674 shares during 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.