McGrath RentCorp (NASDAQ:MGRC) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a report issued on Saturday. The brokerage set a “hold” rating on the financial services provider’s stock.

McGrath RentCorp Stock Down 0.3 %

McGrath RentCorp stock opened at $110.39 on Friday. The business’s 50-day simple moving average is $121.68 and its 200 day simple moving average is $113.02. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.58 and a beta of 0.80. McGrath RentCorp has a 12-month low of $85.97 and a 12-month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, February 21st. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.07). The business had revenue of $221.59 million during the quarter, compared to the consensus estimate of $214.43 million. McGrath RentCorp had a net margin of 20.99% and a return on equity of 13.63%. As a group, sell-side analysts expect that McGrath RentCorp will post 5.42 EPS for the current year.

Hedge Funds Weigh In On McGrath RentCorp

Large investors have recently bought and sold shares of the business. Dark Forest Capital Management LP raised its holdings in McGrath RentCorp by 210.0% in the first quarter. Dark Forest Capital Management LP now owns 310 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 210 shares during the period. KBC Group NV bought a new position in shares of McGrath RentCorp in the 4th quarter valued at about $33,000. Adirondack Trust Co. bought a new position in shares of McGrath RentCorp in the 3rd quarter valued at about $50,000. Lazard Asset Management LLC acquired a new stake in shares of McGrath RentCorp during the 1st quarter worth about $51,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of McGrath RentCorp by 211.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 607 shares of the financial services provider’s stock worth $57,000 after buying an additional 412 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.