McGrath RentCorp (NASDAQ:MGRC) Receives New Coverage from Analysts at StockNews.com

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

McGrath RentCorp Price Performance

Shares of NASDAQ:MGRC opened at $123.37 on Wednesday. The firm has a market capitalization of $3.02 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.73 and a beta of 0.80. McGrath RentCorp has a 12 month low of $85.63 and a 12 month high of $130.86. The company’s fifty day moving average price is $123.23 and its 200 day moving average price is $111.15.

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

Hedge Funds Weigh In On McGrath RentCorp

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