McGrath RentCorp's (MGRC) Buy (B-) Rating Reiterated at Weiss Ratings

Key Points

• McGrath RentCorp has had its "buy (B-)" rating reissued by Weiss Ratings, indicating analysts maintain a positive outlook on the stock.
• Oppenheimer increased its target price for McGrath RentCorp from $139 to $143, contributing to a consensus target price of $147.50 among analysts.
• The company reported $1.46 earnings per share for the last quarter, exceeding expectations, and saw a year-over-year revenue increase of 10.8%.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report)'s stock had its "buy (b-)" rating reissued by investment analysts at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

Separately, Oppenheimer raised their target price on McGrath RentCorp from $139.00 to $143.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, McGrath RentCorp currently has a consensus rating of "Buy" and a consensus target price of $147.50.

McGrath RentCorp Stock Up 0.8%

Shares of McGrath RentCorp stock traded up $0.89 during trading on Tuesday, reaching $116.36. The company's stock had a trading volume of 32,835 shares, compared to its average volume of 139,058. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 1.18 and a beta of 0.56. The company has a 50-day simple moving average of $120.21 and a two-hundred day simple moving average of $115.64. McGrath RentCorp has a 1-year low of $97.81 and a 1-year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.16. The company had revenue of $235.62 million during the quarter, compared to analyst estimates of $220.71 million. McGrath RentCorp had a return on equity of 13.52% and a net margin of 26.81%.The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. McGrath RentCorp has set its FY 2025 guidance at EPS. As a group, analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kimberly Ann Box sold 1,500 shares of the firm's stock in a transaction that occurred on 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 directly owned 7,000 shares of the company's stock, valued at $829,500. This trade represents a 17.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph F. Hanna sold 14,577 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $126.55, for a total transaction of $1,844,719.35. Following the transaction, the chief executive officer directly owned 153,637 shares of the company's stock, valued at approximately $19,442,762.35. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

Institutional Trading of McGrath RentCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider's stock worth $31,000 after acquiring an additional 238 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in McGrath RentCorp in the 2nd quarter worth approximately $37,000. Elevation Point Wealth Partners LLC purchased a new stake in McGrath RentCorp in the 2nd quarter worth approximately $57,000. Strs Ohio purchased a new stake in McGrath RentCorp in the 1st quarter worth approximately $56,000. Finally, Adirondack Trust Co. grew its stake in McGrath RentCorp by 20.0% in the 2nd quarter. Adirondack Trust Co. now owns 600 shares of the financial services provider's stock worth $70,000 after acquiring an additional 100 shares during the period. 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.

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