McGrath RentCorp (MGRC) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of McGrath RentCorp (NASDAQ:MGRC) have been given an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation. McGrath RentCorp’s rating score has declined by 28.8% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Zacks has also assigned McGrath RentCorp an industry rank of 46 out of 265 based on the ratings given to related companies.
A number of equities analysts have recently issued reports on MGRC shares. Zacks Investment Research cut McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Oppenheimer reiterated a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st. Finally, ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
Hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its holdings in McGrath RentCorp by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 162,836 shares of the financial services provider’s stock valued at $5,640,000 after acquiring an additional 4,754 shares during the period. Bank of America Corp DE lifted its holdings in McGrath RentCorp by 9.7% in the 1st quarter. Bank of America Corp DE now owns 9,417 shares of the financial services provider’s stock worth $316,000 after buying an additional 830 shares during the period. Comerica Bank lifted its holdings in McGrath RentCorp by 5.5% in the 2nd quarter. Comerica Bank now owns 73,046 shares of the financial services provider’s stock worth $2,521,000 after buying an additional 3,803 shares during the period. Northern Trust Corp lifted its holdings in McGrath RentCorp by 8.9% in the 2nd quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock worth $17,701,000 after buying an additional 41,984 shares during the period. Finally, Chartwell Investment Partners LLC purchased a new stake in McGrath RentCorp in the 2nd quarter worth approximately $3,858,000. Institutional investors own 82.61% of the company’s stock.
McGrath RentCorp (NASDAQ:MGRC) traded down $0.21 on Wednesday, hitting $46.89. The stock had a trading volume of 54,000 shares, compared to its average volume of 74,250. McGrath RentCorp has a 1 year low of $32.09 and a 1 year high of $49.66. The stock has a market cap of $1,131.91, a PE ratio of 24.79, a P/E/G ratio of 2.31 and a beta of 1.02.
McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The firm had revenue of $135.39 million during the quarter, compared to analysts’ expectations of $124.90 million. During the same period in the prior year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. equities analysts anticipate that McGrath RentCorp will post 2.04 earnings per share for the current fiscal year.
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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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