McGrath RentCorp (NASDAQ:MGRC) Upgraded to Buy at StockNews.com

McGrath RentCorp (NASDAQ:MGRC – Get Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Sidoti downgraded McGrath RentCorp from a “buy” rating to a “neutral” rating and set a $106.00 target price on the stock. in a research note on Wednesday, November 16th.

McGrath RentCorp Stock Up 0.5 %

NASDAQ MGRC traded up $0.51 during trading on Tuesday, hitting $95.32. 180,307 shares of the stock traded hands, compared to its average volume of 111,460. The company has a market capitalization of $2.32 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.08 and a beta of 0.78. The firm has a 50-day simple moving average of $97.90 and a 200-day simple moving average of $90.05. McGrath RentCorp has a 12-month low of $71.17 and a 12-month high of $101.78.

McGrath RentCorp (NASDAQ:MGRC – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.19. The company had revenue of $200.54 million during the quarter, compared to analysts’ expectations of $189.90 million. McGrath RentCorp had a return on equity of 13.88% and a net margin of 14.87%. As a group, research analysts predict that McGrath RentCorp will post 4.42 EPS for the current fiscal year.

Institutional Trading of McGrath RentCorp

Hedge funds have recently modified their holdings of the stock. Pinebridge Investments L.P. boosted its stake in shares of McGrath RentCorp by 325.0% in the second quarter. Pinebridge Investments L.P. now owns 425 shares of the financial services provider’s stock worth $32,000 after buying an additional 325 shares during the last quarter. Lazard Asset Management LLC acquired a new position in McGrath RentCorp in the 3rd quarter worth about $48,000. FMR LLC raised its holdings in McGrath RentCorp by 14.1% in the 2nd quarter. FMR LLC now owns 978 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 121 shares during the period. Quantbot Technologies LP acquired a new position in McGrath RentCorp in the 2nd quarter worth about $90,000. Finally, SG Americas Securities LLC acquired a new position in McGrath RentCorp in the 2nd quarter worth about $108,000. Hedge funds and other institutional investors own 82.90% of the company’s stock.

About McGrath RentCorp

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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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.