McGrath RentCorp (NASDAQ:MGRC) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

MGRC has been the subject of several other research reports. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a report on Friday, November 3rd. Oppenheimer reaffirmed 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.

McGrath RentCorp (NASDAQ:MGRC) traded down $0.10 during midday trading on Friday, hitting $48.91. The company had a trading volume of 50,160 shares, compared to its average volume of 81,150. McGrath RentCorp has a fifty-two week low of $32.09 and a fifty-two week high of $49.66. The firm has a market cap of $1,162.19, a PE ratio of 25.74, a PEG ratio of 2.17 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 for the quarter, topping the consensus estimate of $0.57 by $0.12. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The business had revenue of $135.39 million during the quarter, compared to analysts’ expectations of $124.90 million. During the same quarter in the previous year, the firm earned $0.54 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. equities analysts anticipate that McGrath RentCorp will post 2.04 EPS for the current year.

In other McGrath RentCorp news, Director William J. Dawson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.83, for a total value of $191,320.00. Following the completion of the transaction, the director now owns 15,543 shares of the company’s stock, valued at approximately $743,421.69. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Keith E. Pratt sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $46.01, for a total value of $64,966.12. Following the completion of the transaction, the chief financial officer now directly owns 28,118 shares of the company’s stock, valued at approximately $1,293,709.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,159 shares of company stock valued at $628,935. Insiders own 4.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MGRC. Chartwell Investment Partners LLC raised its holdings in McGrath RentCorp by 94.2% in the 3rd quarter. Chartwell Investment Partners LLC now owns 216,385 shares of the financial services provider’s stock valued at $9,466,000 after acquiring an additional 104,973 shares in the last quarter. HCSF Management LLC raised its holdings 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 buying an additional 104,610 shares in the last quarter. SG Capital Management LLC acquired a new position in shares of McGrath RentCorp in the 3rd quarter worth approximately $1,934,000. Northern Trust Corp raised its holdings in shares of 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 in the last quarter. Finally, Kennedy Capital Management Inc. raised its holdings in shares of McGrath RentCorp by 40.7% in the 2nd quarter. Kennedy Capital Management Inc. now owns 136,511 shares of the financial services provider’s stock worth $4,727,000 after buying an additional 39,481 shares in the last quarter. 82.61% of the stock is owned by hedge funds and other institutional investors.

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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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