StockNews.com started coverage on shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) in a research report report published on Saturday. The brokerage issued a hold rating on the financial services provider’s stock.
McGrath RentCorp Stock Performance
MGRC stock opened at $107.93 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 15.16, a PEG ratio of 1.57 and a beta of 0.80. McGrath RentCorp has a one year low of $85.97 and a one year high of $130.86. The company has a 50 day moving average price of $120.82 and a two-hundred day moving average price of $113.33.
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last released its earnings results on Wednesday, February 21st. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.07). The firm had revenue of $221.59 million during the quarter, compared to analysts’ expectations of $214.43 million. McGrath RentCorp had a return on equity of 13.63% and a net margin of 20.99%. Research analysts forecast that McGrath RentCorp will post 5.42 earnings per share for the current fiscal year.
McGrath RentCorp Increases Dividend
Hedge Funds Weigh In On McGrath RentCorp
Hedge funds have recently made changes to their positions in the stock. Adirondack Trust Co. acquired a new position in shares of McGrath RentCorp during the 3rd quarter valued at $50,000. Global Retirement Partners LLC acquired a new position in shares of McGrath RentCorp during the 1st quarter valued at $66,000. Vanguard Personalized Indexing Management LLC acquired a new position in McGrath RentCorp in the 4th quarter worth $217,000. Brown Brothers Harriman & Co. acquired a new position in McGrath RentCorp in the 4th quarter worth $230,000. Finally, Forum Financial Management LP acquired a new position in McGrath RentCorp in the 4th quarter worth $230,000. Institutional investors and hedge funds own 92.05% of the company’s stock.
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.
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