McGrath RentCorp (MGRC) Lowered to Hold at ValuEngine

ValuEngine downgraded shares of McGrath RentCorp (NASDAQ:MGRC) from a buy rating to a hold rating in a research note released on Friday.

Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of McGrath RentCorp from a hold rating to a buy rating in a research note on Saturday, August 5th. Zacks Investment Research raised shares of McGrath RentCorp from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Saturday, August 5th. Finally, Oppenheimer reissued a hold rating on shares of McGrath RentCorp in a research note on Wednesday, November 1st.

McGrath RentCorp (NASDAQ:MGRC) traded down $0.85 during trading hours on Friday, reaching $46.95. 59,474 shares of the company’s stock were exchanged, compared to its average volume of 87,554. The stock has a market capitalization of $1,110.00, a P/E ratio of 25.16, a P/E/G ratio of 2.34 and a beta of 0.99. McGrath RentCorp has a 12 month low of $32.09 and a 12 month high of $49.66.

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

In other news, Director William J. Dawson sold 4,000 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.83, for a total value of $191,320.00. Following the transaction, the director now owns 15,543 shares of the company’s stock, valued at approximately $743,421.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Trease Kristina Van sold 3,400 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $39.61, for a total transaction of $134,674.00. Following the completion of the transaction, the vice president now directly owns 15,030 shares in the company, valued at approximately $595,338.30. The disclosure for this sale can be found here. In the last three months, insiders sold 17,602 shares of company stock worth $805,142. Insiders own 4.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in McGrath RentCorp by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 2,093,570 shares of the financial services provider’s stock valued at $70,282,000 after purchasing an additional 304,573 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in McGrath RentCorp by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,781,300 shares of the financial services provider’s stock valued at $77,932,000 after purchasing an additional 35,195 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in McGrath RentCorp by 4.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,119,041 shares of the financial services provider’s stock valued at $38,752,000 after purchasing an additional 45,353 shares in the last quarter. State Street Corp grew its holdings in McGrath RentCorp by 4.7% during the 2nd quarter. State Street Corp now owns 541,096 shares of the financial services provider’s stock valued at $18,737,000 after purchasing an additional 24,511 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in McGrath RentCorp by 8.9% during the 2nd quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock valued at $17,701,000 after purchasing an additional 41,984 shares in the last quarter. 82.62% of the stock is owned by institutional investors and hedge funds.

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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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