McGrath RentCorp (NASDAQ:MGRC) has been given a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. McGrath RentCorp’s rating score has improved by 16.5% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1-year consensus price target of $76.50 for the company and are forecasting that the company will post $1.02 EPS for the current quarter, according to Zacks. Zacks has also assigned McGrath RentCorp an industry rank of 3 out of 256 based on the ratings given to its competitors.
A number of brokerages have recently issued reports on MGRC. Sidoti raised their price objective on McGrath RentCorp from $78.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Friday, August 2nd. Finally, BidaskClub downgraded McGrath RentCorp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.
In other McGrath RentCorp news, VP Trease Kristina Van sold 3,655 shares of McGrath RentCorp stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $68.69, for a total value of $251,061.95. Following the completion of the sale, the vice president now directly owns 10,996 shares in the company, valued at $755,315.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dennis P. Stradford sold 2,200 shares of McGrath RentCorp stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.17, for a total value of $149,974.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $340,850. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,568 shares of company stock valued at $715,044. 1.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in McGrath RentCorp during the 2nd quarter valued at $44,000. FMR LLC grew its holdings in shares of McGrath RentCorp by 186.6% during the fourth quarter. FMR LLC now owns 917 shares of the financial services provider’s stock valued at $47,000 after buying an additional 597 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of McGrath RentCorp during the first quarter valued at about $62,000. Denali Advisors LLC bought a new stake in shares of McGrath RentCorp during the second quarter worth about $106,000. Finally, Bank of Montreal Can increased its position in shares of McGrath RentCorp by 1,015.0% during the second quarter. Bank of Montreal Can now owns 2,230 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 2,030 shares in the last quarter. Hedge funds and other institutional investors own 84.27% of the company’s stock.
Shares of MGRC traded down $0.61 during mid-day trading on Monday, reaching $65.42. 48,438 shares of the company were exchanged, compared to its average volume of 108,163. McGrath RentCorp has a 52 week low of $45.85 and a 52 week high of $70.88. The company has a market capitalization of $1.57 billion, a PE ratio of 20.90, a PEG ratio of 1.84 and a beta of 0.79. The stock has a 50 day simple moving average of $63.93.
McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.06. McGrath RentCorp had a return on equity of 15.13% and a net margin of 16.54%. The company had revenue of $127.40 million during the quarter, compared to the consensus estimate of $123.45 million. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. Equities analysts expect that McGrath RentCorp will post 3.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were issued a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $1.50 dividend on an annualized basis and a yield of 2.29%. McGrath RentCorp’s payout ratio is currently 47.92%.
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, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates in four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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