McGrath RentCorp (MGRC) Hit 52-Week High

May 16, 2018 - By Hannah Black

McGrath RentCorp (NASDAQ:MGRC) Logo

Investors sentiment increased to 1.65 in 2017 Q4. Its up 0.48, from 1.17 in 2017Q3. It improved, as 4 investors sold McGrath RentCorp shares while 39 reduced holdings. 26 funds opened positions while 45 raised stakes. 19.35 million shares or 0.66% less from 19.48 million shares in 2017Q3 were reported.
Zacks Investment reported 24,015 shares. Tiaa Cref Inv Management Ltd Liability reported 55,989 shares stake. Martingale Asset Management L P owns 76,575 shares or 0.05% of their US portfolio. Macquarie Group Ltd holds 9,328 shares. Rhumbline Advisers accumulated 45,115 shares. Citigroup invested in 6,741 shares. Art Limited Liability Company reported 0.02% in McGrath RentCorp (NASDAQ:MGRC). Teacher Retirement Systems Of Texas stated it has 7,876 shares or 0% of all its holdings. Teton Advsr Incorporated holds 0.2% in McGrath RentCorp (NASDAQ:MGRC) or 46,200 shares. Eam Lc owns 45,449 shares for 0.28% of their portfolio. Bnp Paribas Arbitrage Sa invested in 0% or 27,727 shares. Pennsylvania-based Susquehanna Int Group Limited Liability Partnership has invested 0% in McGrath RentCorp (NASDAQ:MGRC). Arrowstreet Capital Partnership, Massachusetts-based fund reported 177,434 shares. Barclays Pcl reported 6,641 shares or 0% of all its holdings. Int Gru has 15,786 shares for 0% of their portfolio.

Since March 1, 2018, it had 0 insider purchases, and 17 selling transactions for $4.62 million activity. $509,547 worth of McGrath RentCorp (NASDAQ:MGRC) shares were sold by Hawkins Philip B. Whitney David M also sold $633,364 worth of McGrath RentCorp (NASDAQ:MGRC) on Wednesday, May 9. DAWSON WILLIAM J had sold 4,843 shares worth $294,182. On Monday, March 12 the insider VAN TREASE KRISTINA sold $273,091. The insider Dashner Kay sold $128,500. PRATT KEITH E sold $177,106 worth of stock.

The stock of McGrath RentCorp (NASDAQ:MGRC) hit a new 52-week high and has $68.60 target or 6.00 % above today’s $64.72 share price. The 5 months bullish chart indicates low risk for the $1.56 billion company. The 1-year high was reported on May, 16 by Barchart.com. If the $68.60 price target is reached, the company will be worth $93.66 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.41% or $0.9 during the last trading session, reaching $64.72. About 45,553 shares traded. McGrath RentCorp (NASDAQ:MGRC) has risen 62.62% since May 16, 2017 and is uptrending. It has outperformed by 51.07% the S&P500.

Analysts await McGrath RentCorp (NASDAQ:MGRC) to report earnings on August, 1. They expect $0.65 earnings per share, up 35.42 % or $0.17 from last year’s $0.48 per share. MGRC’s profit will be $15.68M for 24.89 P/E if the $0.65 EPS becomes a reality. After $0.48 actual earnings per share reported by McGrath RentCorp for the previous quarter, Wall Street now forecasts 35.42 % EPS growth.

More news for McGrath RentCorp (NASDAQ:MGRC) were recently published by: Globenewswire.com, which released: “McGrath RentCorp Announces Results for First Quarter 2018” on May 01, 2018. Seekingalpha.com‘s article titled: “McGrath RentCorp up 2% post Q1 results” and published on May 02, 2018 is yet another important article.

McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. The company has market cap of $1.56 billion. It operates through four divisions: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex. It has a 10.21 P/E ratio. The Mobile Modular segment rents and sells modular buildings designed for use as classrooms, temporary offices adjacent to existing facilities, sales offices, construction field offices, restroom buildings, health care clinics, child care facilities, office space, and various other purposes; and portable storage containers.

McGrath RentCorp (NASDAQ:MGRC) Institutional Positions Chart

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