A number of other analysts have also issued reports on MGRC. CJS Securities initiated coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They set an "outperform" rating and a $152.00 target price for the company. Oppenheimer boosted their price objective on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd.
View Our Latest Stock Analysis on MGRC
MGRC stock opened at $124.04 on Friday. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The stock has a market cap of $3.05 billion, a PE ratio of 13.15, a P/E/G ratio of 1.35 and a beta of 0.77. The company has a 50-day moving average price of $118.68 and a 200 day moving average price of $113.83.
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The firm had revenue of $243.75 million for the quarter, compared to analysts' expectations of $246.93 million. Sell-side analysts forecast that McGrath RentCorp will post 6.18 EPS for the current year.
In other news, VP Gilda Malek sold 919 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.78, for a total value of $111,915.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. bought a new stake in McGrath RentCorp during the 4th quarter valued at $3,657,000. Mackenzie Financial Corp bought a new stake in McGrath RentCorp during the fourth quarter valued at about $400,000. Forum Financial Management LP grew its stake in McGrath RentCorp by 11.2% in the fourth quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider's stock valued at $240,000 after purchasing an additional 216 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in McGrath RentCorp by 13.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,289 shares of the financial services provider's stock worth $8,195,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of McGrath RentCorp by 24.2% during the fourth quarter. Squarepoint Ops LLC now owns 14,624 shares of the financial services provider's stock valued at $1,635,000 after buying an additional 2,851 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.
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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