McGrath RentCorp (NASDAQ:MGRC) Earns Outperform Rating from Analysts at CJS Securities

Investment analysts at CJS Securities assumed coverage on shares of McGrath RentCorp (NASDAQ:MGRC - Get Free Report) in a research report issued on Wednesday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $152.00 price target on the financial services provider's stock. CJS Securities' price objective suggests a potential upside of 26.87% from the stock's previous close.

MGRC has been the subject of several other research reports. StockNews.com upgraded shares of McGrath RentCorp from a "sell" rating to a "hold" rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their target price on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd.

McGrath RentCorp Stock Performance

McGrath RentCorp stock traded down $0.28 during mid-day trading on Wednesday, reaching $119.81. 124,264 shares of the company were exchanged, compared to its average volume of 237,120. The firm has a market cap of $2.94 billion, a P/E ratio of 13.09, a PEG ratio of 1.71 and a beta of 0.75. The business has a fifty day moving average of $115.37 and a 200 day moving average of $109.38. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.48. McGrath RentCorp had a return on equity of 13.64% and a net margin of 25.29%. The firm had revenue of $266.76 million during the quarter, compared to analysts' expectations of $227.76 million. During the same period in the prior year, the business posted $1.65 EPS. The firm's quarterly revenue was up 9.5% on a year-over-year basis. Sell-side analysts predict that McGrath RentCorp will post 5.5 EPS for the current year.

Insiders Place Their Bets

In other news, VP David M. Whitney sold 5,176 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total value of $605,592.00. Following the sale, the vice president now owns 205 shares in the company, valued at $23,985. This represents a 96.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gilda Malek sold 919 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.78, for a total transaction of $111,915.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,935 shares of company stock valued at $5,605,327. 1.60% of the stock is owned by company insiders.

Institutional Trading of McGrath RentCorp

A number of hedge funds have recently modified their holdings of MGRC. KBC Group NV raised its stake in shares of McGrath RentCorp by 32.5% during the 3rd quarter. KBC Group NV now owns 767 shares of the financial services provider's stock worth $81,000 after buying an additional 188 shares during the period. Covestor Ltd grew its position in shares of McGrath RentCorp by 15.8% in the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider's stock valued at $125,000 after purchasing an additional 161 shares during the period. Millburn Ridgefield Corp acquired a new stake in shares of McGrath RentCorp in the third quarter valued at about $203,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of McGrath RentCorp by 5.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider's stock worth $213,000 after purchasing an additional 104 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth about $238,000. Hedge funds and other 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.