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McGrath RentCorp (NASDAQ:MGRC - Get Rating) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

Separately, Zacks Investment Research raised shares of McGrath RentCorp from a "hold" rating to a "buy" rating and set a $92.00 target price on the stock in a report on Wednesday, May 4th.

Shares of NASDAQ:MGRC opened at $82.09 on Tuesday. The company's fifty day moving average price is $83.56 and its 200-day moving average price is $80.33. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.02 and a beta of 0.78. McGrath RentCorp has a one year low of $67.08 and a one year high of $91.37.

McGrath RentCorp (NASDAQ:MGRC - Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.20. The firm had revenue of $145.37 million for the quarter, compared to analyst estimates of $146.41 million. McGrath RentCorp had a net margin of 14.21% and a return on equity of 12.65%. The business's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, research analysts forecast that McGrath RentCorp will post 4.06 earnings per share for the current fiscal year.

What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%! When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.

In other McGrath RentCorp news, VP John P. Skenesky sold 2,000 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $81.74, for a total transaction of $163,480.00. Following the completion of the sale, the vice president now owns 12,184 shares of the company's stock, valued at approximately $995,920.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Philip B. Hawkins sold 10,862 shares of the stock in a transaction on Friday, March 11th. The shares were sold at an average price of $83.42, for a total transaction of $906,108.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,262 shares of company stock worth $1,184,598. 2.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MGRC. DB Wealth Management Group LLC purchased a new stake in McGrath RentCorp during the 1st quarter valued at $26,000. Lazard Asset Management LLC purchased a new stake in shares of McGrath RentCorp in the 1st quarter worth about $51,000. Pinebridge Investments L.P. purchased a new stake in shares of McGrath RentCorp in the 4th quarter worth about $80,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of McGrath RentCorp in the 4th quarter worth about $122,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of McGrath RentCorp in the 1st quarter worth about $168,000. 92.27% of the stock is owned by institutional investors and hedge funds.

About McGrath RentCorp (Get Rating)

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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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