McGrath RentCorp (NASDAQ:MGRC) Downgraded to “Hold” Rating by StockNews.com

McGrath RentCorp (NASDAQ:MGRC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other analysts also recently issued reports on the company. Oppenheimer lifted their price target on McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. CJS Securities assumed coverage on McGrath RentCorp in a report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price objective for the company.

McGrath RentCorp Stock Performance

NASDAQ MGRC opened at $127.18 on Thursday. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.25 and a beta of 0.77. The business has a 50 day simple moving average of $117.76 and a 200 day simple moving average of $112.93. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. McGrath RentCorp had a net margin of 25.44% and a return on equity of 14.12%. The company had revenue of $243.75 million during the quarter, compared to the consensus estimate of $246.93 million. On average, analysts predict that McGrath RentCorp will post 6.4 EPS for the current year.

Insider Buying and Selling at McGrath RentCorp

In related news, VP Gilda Malek sold 919 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.78, for a total transaction of $111,915.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On McGrath RentCorp

A number of institutional investors and hedge funds have recently made changes to their positions in MGRC. Dynamic Technology Lab Private Ltd acquired a new position in McGrath RentCorp during the third quarter worth $816,000. Sanctuary Advisors LLC bought a new position in shares of McGrath RentCorp in the 3rd quarter valued at about $548,000. One Wealth Advisors LLC increased its stake in shares of McGrath RentCorp by 40.1% during the 4th quarter. One Wealth Advisors LLC now owns 16,857 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 4,824 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of McGrath RentCorp in the 3rd quarter valued at about $797,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in McGrath RentCorp by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 287,261 shares of the financial services provider’s stock valued at $30,243,000 after purchasing an additional 8,428 shares during the last quarter. Institutional investors 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.