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

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

A number of other research firms also recently issued reports on MGRC. 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 reaffirmed a “hold (c+)” rating on shares of McGrath RentCorp in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, McGrath RentCorp currently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

McGrath RentCorp Stock Performance

Shares of NASDAQ MGRC opened at $115.64 on Wednesday. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $129.93. The firm’s 50 day moving average price is $110.00 and its 200 day moving average price is $113.55. The firm has a market cap of $2.85 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.13 and a beta of 0.51.

Insider Activity

In other news, SVP Gilda Malek sold 829 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $107.29, for a total value of $88,943.41. Following the completion of the transaction, the senior vice president directly owned 4,068 shares in the company, valued at approximately $436,455.72. This represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of McGrath RentCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its stake in McGrath RentCorp by 0.7% in the 2nd 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 during the period. Coldstream Capital Management Inc. lifted its holdings 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 valued at $2,167,000 after purchasing an additional 88 shares in the last quarter. Cim LLC lifted its holdings 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 valued at $528,000 after purchasing an additional 99 shares in the last quarter. Diversified Trust Co. boosted its position in shares of McGrath RentCorp by 4.6% during the fourth quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock worth $245,000 after buying an additional 103 shares during the period. Finally, Summit Global Investments grew its holdings in shares of McGrath RentCorp by 2.3% during the second quarter. Summit Global Investments now owns 4,971 shares of the financial services provider’s stock worth $576,000 after buying an additional 114 shares in the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

McGrath RentCorp Company Profile

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.