Oppenheimer Sticks to Its Hold Rating for Mcgrath Rentcorp (MGRC)


Oppenheimer analyst Scott Schneeberger maintained a Hold rating on Mcgrath Rentcorp (MGRC) today. The company’s shares closed last Wednesday at $58.32.

According to TipRanks.com, Schneeberger is a 4-star analyst with an average return of 5.9% and a 58.6% success rate. Schneeberger covers the Services sector, focusing on stocks such as Fleetcor Technologies, Service International, and Target Hospitality.

Mcgrath Rentcorp has an analyst consensus of Hold.

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Based on Mcgrath Rentcorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $129 million and net profit of $20.16 million. In comparison, last year the company earned revenue of $122 million and had a net profit of $18.45 million.

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McGrath RentCorp engages in the provision of diversified business-to-business rental services. It operates through the following segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex. The Mobile Modular segment operates inventory centers, at which relocatable modular buildings and storage containers are displayed, refurbished, and stored. The TRS-RenTelco segment includes electronic test equipment rental and sales operations and provides containment solutions for the storage of hazardous and non-hazardous liquids and solids. The Adler Tanks segment operates from branch offices serving the Northeast, Mid-Atlantic, Midwest, Southeast, Southwest, and West. The Enviroplex segment manufactures modular buildings used primarily as classrooms. The company was founded by Robert P. McGrath in 1979 and is headquartered in Livermore, CA.

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