Insider Selling: McGrath RentCorp Director Sells 2,330 Shares of Stock (MGRC)
McGrath RentCorp (NASDAQ:MGRC) Director Dennis P. Stradford sold 2,330 shares of McGrath RentCorp stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $34.20, for a total value of $79,686.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $171,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at KeyCorp upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $41.00 price target on the stock. Analysts at Zacks upgraded shares of McGrath RentCorp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 30th. They now have a $31.80 price target on the stock.
McGrath RentCorp (NASDAQ:MGRC) traded down 0.12% during mid-day trading on Monday, hitting $34.24. 63,460 shares of the company’s stock traded hands. McGrath RentCorp has a 52 week low of $29.02 and a 52 week high of $40.10. The stock’s 50-day moving average is $32.79 and its 200-day moving average is $35.69. The company has a market cap of $885.9 million and a price-to-earnings ratio of 21.32.
McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Wednesday, April 30th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.06. On average, analysts predict that McGrath RentCorp will post $1.70 earnings per share for the current fiscal year.
McGrath RentCorp (NASDAQ:MGRC) is a diversified business to business rental company.
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