Zacks: McGrath RentCorp (MGRC) Given Consensus Recommendation of “Hold” by Analysts

Shares of McGrath RentCorp (NASDAQ:MGRC) have been given an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.

Zacks has also assigned McGrath RentCorp an industry rank of 244 out of 265 based on the ratings given to its competitors.

A number of brokerages recently commented on MGRC. BidaskClub upgraded McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Oppenheimer reiterated a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st. Finally, ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.

In other McGrath RentCorp news, Director Dennis P. Stradford sold 3,900 shares of McGrath RentCorp stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total value of $192,699.00. Following the sale, the director now owns 5,000 shares in the company, valued at $247,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith E. Pratt sold 2,284 shares of McGrath RentCorp stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $47.00, for a total value of $107,348.00. Following the completion of the sale, the chief financial officer now owns 28,118 shares in the company, valued at approximately $1,321,546. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,159 shares of company stock worth $628,935. 4.60% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of MGRC. Schwab Charles Investment Management Inc. raised its position in McGrath RentCorp by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 162,836 shares of the financial services provider’s stock valued at $5,640,000 after purchasing an additional 4,754 shares during the period. Legal & General Group Plc raised its position in McGrath RentCorp by 2.4% in the second quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 172 shares during the period. BNP Paribas Arbitrage SA raised its position in McGrath RentCorp by 260.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 3,241 shares during the period. Victory Capital Management Inc. raised its position in McGrath RentCorp by 8.1% in the second quarter. Victory Capital Management Inc. now owns 19,775 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 1,477 shares during the period. Finally, American Century Companies Inc. purchased a new stake in McGrath RentCorp in the second quarter valued at $808,000. Institutional investors own 82.61% of the company’s stock.

McGrath RentCorp (MGRC) traded up $0.71 during midday trading on Friday, hitting $49.66. The stock had a trading volume of 78,103 shares, compared to its average volume of 71,278. McGrath RentCorp has a 1-year low of $32.09 and a 1-year high of $50.09. The stock has a market capitalization of $1,193.43, a P/E ratio of 26.14, a PEG ratio of 2.23 and a beta of 1.02.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The firm had revenue of $135.39 million for the quarter, compared to the consensus estimate of $124.90 million. During the same quarter last year, the business posted $0.54 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. research analysts forecast that McGrath RentCorp will post 2.04 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.09%. McGrath RentCorp’s payout ratio is 54.74%.

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McGrath RentCorp Company Profile

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

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