McGrath RentCorp (NASDAQ:MGRC – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Separately, Oppenheimer started coverage on shares of McGrath RentCorp in a report on Wednesday. They set an “outperform” rating and a $120.00 target price for the company.
Check Out Our Latest Report on MGRC
McGrath RentCorp Stock Down 2.6 %
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.41). McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The business had revenue of $212.60 million during the quarter, compared to analyst estimates of $210.23 million. During the same quarter last year, the company posted $1.14 EPS. McGrath RentCorp’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that McGrath RentCorp will post 5.45 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp in the first quarter worth about $171,000. TFG Advisers LLC acquired a new position in McGrath RentCorp in the 1st quarter worth about $203,000. J.W. Cole Advisors Inc. purchased a new position in McGrath RentCorp during the first quarter worth approximately $210,000. Meeder Asset Management Inc. acquired a new stake in McGrath RentCorp in the first quarter valued at approximately $213,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of McGrath RentCorp in the fourth quarter valued at approximately $230,000. 92.05% of the stock is owned by institutional investors and hedge funds.
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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