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

A number of other brokerages have also recently weighed in on MGRC. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a research note on Friday, November 3rd. ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Oppenheimer reissued a “hold” rating on shares of McGrath RentCorp in a research note on Wednesday, November 1st.

Shares of McGrath RentCorp (NASDAQ:MGRC) traded up $1.02 on Thursday, reaching $45.56. The company had a trading volume of 157,902 shares, compared to its average volume of 74,286. The stock has a market cap of $1,070.39, a PE ratio of 23.44, a P/E/G ratio of 2.18 and a beta of 1.02. McGrath RentCorp has a 1 year low of $32.09 and a 1 year high of $49.66.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. The firm had revenue of $135.39 million for the quarter, compared to analysts’ expectations of $124.90 million. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. McGrath RentCorp’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. analysts expect that McGrath RentCorp will post 2.04 EPS for the current fiscal year.

In other McGrath RentCorp news, VP Keith E. Pratt sold 1,213 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $46.52, for a total transaction of $56,428.76. Following the completion of the sale, the vice president now directly owns 25,382 shares in the company, valued at approximately $1,180,770.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis P. Stradford sold 3,900 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total value of $192,699.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $247,050. The disclosure for this sale can be found here. Insiders sold a total of 13,159 shares of company stock worth $628,935 in the last three months. 4.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MGRC. Teachers Advisors LLC boosted its position in McGrath RentCorp by 3.5% during the 1st quarter. Teachers Advisors LLC now owns 38,817 shares of the financial services provider’s stock worth $1,303,000 after acquiring an additional 1,324 shares during the period. Bank of America Corp DE boosted its position in McGrath RentCorp by 9.7% during the 1st quarter. Bank of America Corp DE now owns 9,417 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 830 shares during the period. US Bancorp DE boosted its position in McGrath RentCorp by 17,333.3% during the 2nd quarter. US Bancorp DE now owns 4,184 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 4,160 shares during the period. Schwab Charles Investment Management Inc. boosted its position 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 worth $5,640,000 after acquiring an additional 4,754 shares during the period. Finally, Legal & General Group Plc boosted its position in McGrath RentCorp by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 172 shares during the period. Hedge funds and other institutional investors own 82.61% of the company’s stock.

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McGrath RentCorp Company Profile

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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