McGrath RentCorp (NASDAQ:MGRC) Research Coverage Started at StockNews.com

Analysts at StockNews.com started coverage on shares of McGrath RentCorp (NASDAQ:MGRC) in a report issued on Saturday. The firm set a “hold” rating on the financial services provider’s stock.

McGrath RentCorp Price Performance

Shares of McGrath RentCorp stock opened at $110.39 on Friday. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.58 and a beta of 0.80. The firm’s 50-day moving average is $121.68 and its 200 day moving average is $113.02. McGrath RentCorp has a 1 year low of $85.97 and a 1 year high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, February 21st. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.07). The company had revenue of $221.59 million for the quarter, compared to the consensus estimate of $214.43 million. McGrath RentCorp had a net margin of 20.99% and a return on equity of 13.63%. On average, equities analysts expect that McGrath RentCorp will post 5.42 EPS for the current fiscal year.

Hedge Funds Weigh In On McGrath RentCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP increased its position in shares of McGrath RentCorp by 210.0% during the 1st quarter. Dark Forest Capital Management LP now owns 310 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 210 shares during the last quarter. KBC Group NV purchased a new stake in shares of McGrath RentCorp during the 4th quarter valued at about $33,000. Adirondack Trust Co. purchased a new stake in shares of McGrath RentCorp during the 3rd quarter valued at about $50,000. Lazard Asset Management LLC purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC increased its position in shares of McGrath RentCorp by 211.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 607 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 412 shares during the last quarter. 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.