Zacks: McGrath RentCorp (MGRC) Given Consensus Rating of “Buy” by Analysts
McGrath RentCorp (NASDAQ:MGRC) has been given a consensus broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Brokerages have set a 12 month consensus price objective of $40.00 for the company and are anticipating that the company will post $0.57 earnings per share for the current quarter, according to Zacks. Zacks has also assigned McGrath RentCorp an industry rank of 3 out of 265 based on the ratings given to its competitors.
A number of analysts have issued reports on MGRC shares. Zacks Investment Research lowered McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th.
In other McGrath RentCorp news, VP Trease Kristina Van sold 1,043 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $39.82, for a total value of $41,532.26. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $755,504.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kay Dashner sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the vice president now directly owns 6,998 shares in the company, valued at approximately $279,920. The disclosure for this sale can be found here. Insiders sold a total of 14,865 shares of company stock worth $585,284 in the last ninety days. Insiders own 4.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its position in shares of McGrath RentCorp by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,166 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 56 shares during the period. BW Gestao de Investimentos Ltda. lifted its position in shares of McGrath RentCorp by 6.3% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 19,487 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 1,162 shares during the period. Susquehanna International Group LLP bought a new stake in shares of McGrath RentCorp in the 2nd quarter worth approximately $780,000. The Manufacturers Life Insurance Company lifted its position in shares of McGrath RentCorp by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,426 shares of the financial services provider’s stock worth $638,000 after acquiring an additional 352 shares during the period. Finally, HCSF Management LLC lifted its position in shares of McGrath RentCorp by 36.9% in the 2nd quarter. HCSF Management LLC now owns 387,830 shares of the financial services provider’s stock worth $13,431,000 after acquiring an additional 104,610 shares during the period. Institutional investors own 82.54% of the company’s stock.
McGrath RentCorp (MGRC) traded up 0.45% during trading on Friday, reaching $40.53. The company’s stock had a trading volume of 18,286 shares. The firm has a market capitalization of $972.44 million, a price-to-earnings ratio of 23.17 and a beta of 0.96. McGrath RentCorp has a 52-week low of $29.26 and a 52-week high of $41.61. The stock’s 50-day moving average is $38.09 and its 200 day moving average is $35.26.
McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.10. The business had revenue of $109.58 million for the quarter, compared to analyst estimates of $105.36 million. McGrath RentCorp had a return on equity of 10.62% and a net margin of 9.74%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, analysts predict that McGrath RentCorp will post $1.88 EPS for the current fiscal year.
About McGrath RentCorp
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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