Shares of McGrath RentCorp (NASDAQ:MGRC) have been assigned an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.
Brokers have set a twelve-month consensus target price of $70.00 for the company and are forecasting that the company will post $0.62 EPS for the current quarter, according to Zacks. Zacks has also given McGrath RentCorp an industry rank of 9 out of 255 based on the ratings given to related companies.
Get McGrath RentCorp alerts:A number of research analysts recently weighed in on the company. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a report on Saturday, March 2nd. BidaskClub raised McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd.
Shares of MGRC stock opened at $58.05 on Friday. McGrath RentCorp has a 1-year low of $45.85 and a 1-year high of $68.79. The firm has a market cap of $1.29 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 1.64 and a beta of 0.56.
McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Tuesday, February 26th. The financial services provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.22. McGrath RentCorp had a return on equity of 12.61% and a net margin of 35.47%. The firm had revenue of $133.11 million for the quarter, compared to analyst estimates of $129.63 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. McGrath RentCorp’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that McGrath RentCorp will post 3.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $0.375 dividend. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, April 12th. This represents a $1.50 annualized dividend and a yield of 2.58%. McGrath RentCorp’s dividend payout ratio is 43.45%.
In other McGrath RentCorp news, VP John P. Skenesky sold 1,719 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $59.01, for a total value of $101,438.19. Following the sale, the vice president now owns 2,992 shares of the company’s stock, valued at $176,557.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis P. Stradford sold 3,200 shares of the company’s stock in a transaction on Monday, December 10th. The shares were sold at an average price of $51.37, for a total value of $164,384.00. The disclosure for this sale can be found here. Insiders sold 7,968 shares of company stock worth $448,854 in the last three months. 2.00% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. grew its holdings in McGrath RentCorp by 8.2% in the fourth quarter. North Star Investment Management Corp. now owns 26,425 shares of the financial services provider’s stock valued at $1,360,000 after purchasing an additional 2,000 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of McGrath RentCorp during the third quarter valued at $3,342,000. Campbell & CO Investment Adviser LLC boosted its stake in shares of McGrath RentCorp by 207.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 11,109 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 7,500 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of McGrath RentCorp by 28.7% during the fourth quarter. Rhumbline Advisers now owns 45,536 shares of the financial services provider’s stock valued at $2,344,000 after acquiring an additional 10,161 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of McGrath RentCorp by 885.4% during the third quarter. SG Americas Securities LLC now owns 23,828 shares of the financial services provider’s stock valued at $1,298,000 after acquiring an additional 21,410 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.
About McGrath RentCorp
McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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