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

McGrath RentCorp (NASDAQ:MGRC) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

McGrath RentCorp Stock Up 0.2 %

Shares of NASDAQ:MGRC traded up $0.21 during midday trading on Thursday, hitting $99.20. The stock had a trading volume of 1,304,648 shares, compared to its average volume of 227,206. The company has a market cap of $2.44 billion, a P/E ratio of 19.34, a PEG ratio of 1.46 and a beta of 0.76. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $130.86. The business’s 50-day simple moving average is $106.17 and its 200-day simple moving average is $110.02.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41). The firm had revenue of $212.60 million during the quarter, compared to the consensus estimate of $210.23 million. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. As a group, equities analysts predict that McGrath RentCorp will post 5.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp in the first quarter valued at $171,000. TFG Advisers LLC acquired a new position in McGrath RentCorp in the 1st quarter valued at about $203,000. J.W. Cole Advisors Inc. bought a new position in McGrath RentCorp in the 1st quarter valued at about $210,000. Meeder Asset Management Inc. acquired a new stake in McGrath RentCorp during the first quarter worth approximately $213,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in McGrath RentCorp during the fourth quarter worth approximately $217,000. 92.05% of the stock is owned by institutional investors and hedge funds.

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.