McGrath RentCorp (NASDAQ:MGRC) Rating Lowered to Hold at StockNews.com

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

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

McGrath RentCorp Trading Up 4.1 %

Shares of MGRC traded up $5.11 during midday trading on Thursday, reaching $128.96. 331,248 shares of the stock were exchanged, compared to its average volume of 140,338. The company has a market capitalization of $3.17 billion, a P/E ratio of 14.09, a PEG ratio of 1.23 and a beta of 0.77. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.56. The company’s 50 day moving average is $117.76 and its two-hundred day moving average is $112.93.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The business had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. On average, sell-side analysts expect that McGrath RentCorp will post 5.5 EPS for the current year.

Insider Transactions at McGrath RentCorp

In related news, VP Gilda Malek sold 919 shares of the business’s stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On McGrath RentCorp

Several institutional investors have recently added to or reduced their stakes in MGRC. Vanguard Group Inc. increased its holdings in shares of McGrath RentCorp by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider’s stock valued at $304,836,000 after acquiring an additional 29,467 shares in the last quarter. River Road Asset Management LLC grew its position in McGrath RentCorp by 52.1% during the 4th quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock worth $212,116,000 after purchasing an additional 649,567 shares during the last quarter. Franklin Resources Inc. increased its stake in McGrath RentCorp by 7.9% during the 4th quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider’s stock valued at $134,091,000 after purchasing an additional 87,329 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of McGrath RentCorp by 11.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 917,631 shares of the financial services provider’s stock worth $102,610,000 after buying an additional 97,290 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of McGrath RentCorp by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 788,760 shares of the financial services provider’s stock worth $88,198,000 after buying an additional 50,674 shares during the last quarter. 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.