McGrath RentCorp (NASDAQ:MGRC) Upgraded by Barclays to “Strong-Buy” Rating

McGrath RentCorp (NASDAQ:MGRC) was upgraded by investment analysts at Barclays to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

MGRC has been the topic of a number of other reports. Zacks Research upgraded shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.50.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $115.64 on Wednesday. The business has a 50-day moving average of $110.00 and a 200-day moving average of $113.55. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.13 and a beta of 0.51. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $129.93.

Insiders Place Their Bets

In other McGrath RentCorp news, SVP Gilda Malek sold 829 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $107.29, for a total transaction of $88,943.41. Following the transaction, the senior vice president owned 4,068 shares in the company, valued at $436,455.72. This trade represents a 16.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Institutional Trading of McGrath RentCorp

A number of institutional investors have recently bought and sold shares of MGRC. Oliver Luxxe Assets LLC bought a new stake in McGrath RentCorp in the 3rd quarter valued at about $1,456,000. Ashton Thomas Private Wealth LLC bought a new position in shares of McGrath RentCorp in the 3rd quarter worth $6,866,000. Geode Capital Management LLC grew its position in McGrath RentCorp by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 610,231 shares of the financial services provider’s stock valued at $70,771,000 after purchasing an additional 11,784 shares during the period. Ellsworth Advisors LLC bought a new stake in McGrath RentCorp during the 3rd quarter valued at $605,000. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of McGrath RentCorp by 20.5% in the second quarter. Segall Bryant & Hamill LLC now owns 71,788 shares of the financial services provider’s stock valued at $8,325,000 after buying an additional 12,199 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

About McGrath RentCorp

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.