Weiss Ratings Downgrades McGrath RentCorp (NASDAQ:MGRC) to Hold (C+)

McGrath RentCorp (NASDAQ:MGRC) was downgraded by equities researchers at Weiss Ratings from a “buy (b-)” rating to a “hold (c+)” rating in a research note issued to investors on Thursday,Weiss Ratings reports.

Separately, Oppenheimer upped their price target on shares of McGrath RentCorp from $139.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, McGrath RentCorp has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

McGrath RentCorp Price Performance

MGRC stock opened at $107.44 on Thursday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.18 and a beta of 0.56. McGrath RentCorp has a 1-year low of $97.81 and a 1-year high of $129.93. The firm has a fifty day moving average price of $119.15 and a two-hundred day moving average price of $116.51.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.11). The business had revenue of $256.44 million for the quarter, compared to analyst estimates of $266.62 million. McGrath RentCorp had a return on equity of 12.59% and a net margin of 15.62%.The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company posted $1.87 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. As a group, analysts expect that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

Insider Buying and Selling at McGrath RentCorp

In other news, Director Kimberly Ann Box sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $118.50, for a total transaction of $177,750.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at approximately $829,500. This trade represents a 17.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its position in shares of McGrath RentCorp by 0.7% in the second quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 85 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of McGrath RentCorp by 0.5% in the second quarter. Coldstream Capital Management Inc. now owns 18,688 shares of the financial services provider’s stock worth $2,167,000 after purchasing an additional 88 shares in the last quarter. Cim LLC lifted its position in shares of McGrath RentCorp by 2.2% in the second quarter. Cim LLC now owns 4,556 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 99 shares in the last quarter. Adirondack Trust Co. lifted its position in shares of McGrath RentCorp by 20.0% in the second quarter. Adirondack Trust Co. now owns 600 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 100 shares in the last quarter. Finally, Summit Global Investments lifted its position in shares of McGrath RentCorp by 2.3% in the second quarter. Summit Global Investments now owns 4,971 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 114 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

McGrath RentCorp Company Profile

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.