CJS Securities Begins Coverage on McGrath RentCorp (NASDAQ:MGRC)

Research analysts at CJS Securities began coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $152.00 price target on the financial services provider’s stock. CJS Securities’ target price indicates a potential upside of 26.57% from the company’s current price.

Other equities research analysts have also issued reports about the company. Oppenheimer upped their price target on McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

McGrath RentCorp Price Performance

MGRC opened at $120.09 on Wednesday. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86. The stock has a market capitalization of $2.95 billion, a PE ratio of 13.12, a P/E/G ratio of 1.71 and a beta of 0.75. The firm’s fifty day moving average price is $115.06 and its 200 day moving average price is $109.31.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.48. The business had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 EPS. On average, equities research analysts forecast that McGrath RentCorp will post 5.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Joseph F. Hanna sold 15,840 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $119.88, for a total transaction of $1,898,899.20. Following the completion of the transaction, the chief executive officer now owns 155,409 shares of the company’s stock, valued at $18,630,430.92. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimberly Ann Box sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $114.62, for a total transaction of $114,620.00. Following the transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $859,650. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,016 shares of company stock valued at $5,493,411 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of McGrath RentCorp

Several institutional investors and hedge funds have recently bought and sold shares of MGRC. River Road Asset Management LLC lifted its position in shares of McGrath RentCorp by 68.2% in the 3rd quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock valued at $131,324,000 after acquiring an additional 505,817 shares in the last quarter. Franklin Resources Inc. raised its stake in McGrath RentCorp by 57.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider’s stock valued at $119,456,000 after purchasing an additional 404,884 shares during the period. Walleye Capital LLC purchased a new stake in shares of McGrath RentCorp in the third quarter valued at $15,967,000. Clearline Capital LP acquired a new stake in shares of McGrath RentCorp in the third quarter worth $11,976,000. Finally, FMR LLC grew its holdings in shares of McGrath RentCorp by 3,120.0% during the third quarter. FMR LLC now owns 116,791 shares of the financial services provider’s stock valued at $12,296,000 after buying an additional 113,164 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.