BidaskClub upgraded shares of McGrath RentCorp (NASDAQ:MGRC) from a hold rating to a buy rating in a research report released on Tuesday, BidAskClub reports.

MGRC has been the subject of a number of other reports. Zacks Investment Research upgraded shares of 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. Sidoti lifted their target price on shares of McGrath RentCorp from $83.00 to $86.00 and gave the company a buy rating in a research report on Thursday, September 12th.

MGRC stock opened at $69.11 on Tuesday. The firm has a 50 day moving average of $65.81 and a 200-day moving average of $61.64. McGrath RentCorp has a 12 month low of $45.85 and a 12 month high of $70.88. The firm has a market capitalization of $1.64 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. McGrath RentCorp had a net margin of 16.54% and a return on equity of 15.13%. The company had revenue of $127.40 million during the quarter, compared to analyst estimates of $123.45 million. During the same period last year, the business earned $0.65 earnings per share. McGrath RentCorp’s revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that McGrath RentCorp will post 3.51 EPS for the current fiscal year.

In other McGrath RentCorp news, Director Dennis P. Stradford sold 2,200 shares of McGrath RentCorp stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.17, for a total transaction of $149,974.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at $340,850. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Keith E. Pratt sold 2,513 shares of McGrath RentCorp stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $69.31, for a total transaction of $174,176.03. Following the sale, the chief financial officer now owns 24,050 shares of the company’s stock, valued at $1,666,905.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,265 shares of company stock valued at $1,355,446. 1.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. One Wealth Advisors LLC lifted its position in McGrath RentCorp by 1.5% during the second quarter. One Wealth Advisors LLC now owns 34,864 shares of the financial services provider’s stock valued at $2,167,000 after purchasing an additional 520 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of McGrath RentCorp by 66.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,509 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 1,000 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of McGrath RentCorp in the 2nd quarter worth approximately $10,288,000. UBS Asset Management Americas Inc. lifted its holdings in shares of McGrath RentCorp by 53.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 16,594 shares of the financial services provider’s stock worth $1,031,000 after acquiring an additional 5,794 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in shares of McGrath RentCorp by 3.1% in the 2nd quarter. Citadel Advisors LLC now owns 91,444 shares of the financial services provider’s stock worth $5,684,000 after acquiring an additional 2,791 shares during the last quarter. Institutional investors and hedge funds own 85.55% 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, 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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