StockNews.com began coverage on shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) in a research note published on Wednesday. The firm issued a hold rating on the financial services provider’s stock.
McGrath RentCorp Stock Performance
McGrath RentCorp stock opened at $123.37 on Wednesday. The business’s 50-day simple moving average is $123.49 and its two-hundred day simple moving average is $111.33. The company has a market cap of $3.02 billion, a PE ratio of 17.33, a PEG ratio of 1.74 and a beta of 0.80. McGrath RentCorp has a fifty-two week low of $85.63 and a fifty-two week high of $130.86.
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last issued 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). McGrath RentCorp had a return on equity of 13.63% and a net margin of 20.99%. The company had revenue of $221.59 million during the quarter, compared to analysts’ expectations of $214.43 million. As a group, analysts predict that McGrath RentCorp will post 5.42 EPS for the current fiscal year.
McGrath RentCorp Increases Dividend
Hedge Funds Weigh In On McGrath RentCorp
Hedge funds have recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of McGrath RentCorp during the fourth quarter valued at approximately $33,000. Dark Forest Capital Management LP raised its holdings in shares of McGrath RentCorp by 210.0% during the first quarter. Dark Forest Capital Management LP now owns 310 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 210 shares during the last quarter. Adirondack Trust Co. acquired a new position in shares of McGrath RentCorp during the third quarter valued at approximately $50,000. Lazard Asset Management LLC acquired a new position in shares of McGrath RentCorp during the first quarter valued at approximately $51,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of McGrath RentCorp by 211.3% during the first quarter. Tower Research Capital LLC TRC now owns 607 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 412 shares during the last quarter. Hedge funds and other institutional investors 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.
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