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

Research analysts at StockNews.com assumed coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

McGrath RentCorp Price Performance

NASDAQ:MGRC opened at $109.00 on Monday. The firm has a market capitalization of $2.68 billion, a P/E ratio of 21.25, a PEG ratio of 1.66 and a beta of 0.82. McGrath RentCorp has a 1-year low of $86.50 and a 1-year high of $130.86. The company’s fifty day moving average price is $117.85 and its 200-day moving average price is $113.67.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. The firm had revenue of $187.80 million for the quarter, compared to analyst estimates of $145.63 million. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. Equities analysts anticipate that McGrath RentCorp will post 5.05 EPS for the current fiscal year.

Institutional Trading of McGrath RentCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Adirondack Trust Co. purchased a new position in McGrath RentCorp during the third quarter valued at $50,000. Global Retirement Partners LLC purchased a new position in McGrath RentCorp during the first quarter valued at $66,000. J.W. Cole Advisors Inc. purchased a new position in McGrath RentCorp during the first quarter valued at $210,000. Vanguard Personalized Indexing Management LLC purchased a new position in McGrath RentCorp during the fourth quarter valued at $217,000. Finally, Brown Brothers Harriman & Co. purchased a new position in McGrath RentCorp during the fourth quarter valued at $230,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

About McGrath RentCorp

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.