McGrath RentCorp (NASDAQ:MGRC) Rating Lowered to Sell at StockNews.com

McGrath RentCorp (NASDAQ:MGRC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

McGrath RentCorp Price Performance

Shares of MGRC opened at $104.09 on Wednesday. The firm has a market cap of $2.56 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.44 and a beta of 0.76. McGrath RentCorp has a 1 year low of $95.71 and a 1 year high of $130.86. The stock has a 50 day simple moving average of $106.66 and a two-hundred day simple moving average of $110.83.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $210.23 million. During the same quarter in the previous year, the business earned $1.14 EPS. McGrath RentCorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that McGrath RentCorp will post 5.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MGRC. Allianz Asset Management GmbH lifted its stake in McGrath RentCorp by 0.4% in the fourth quarter. Allianz Asset Management GmbH now owns 24,967 shares of the financial services provider’s stock worth $2,987,000 after acquiring an additional 90 shares during the period. Sei Investments Co. lifted its position in McGrath RentCorp by 2.9% during the first quarter. Sei Investments Co. now owns 4,473 shares of the financial services provider’s stock valued at $552,000 after buying an additional 126 shares during the period. Arizona State Retirement System boosted its holdings in shares of McGrath RentCorp by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 6,871 shares of the financial services provider’s stock valued at $732,000 after buying an additional 141 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of McGrath RentCorp by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,397 shares of the financial services provider’s stock worth $1,108,000 after buying an additional 185 shares during the period. Finally, Cim LLC increased its stake in shares of McGrath RentCorp by 4.6% in the 2nd quarter. Cim LLC now owns 4,636 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 205 shares in the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

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.