Mcgrath Rentcorp (MGRC) received a Buy rating and a $74.00 price target from Oppenheimer analyst Scott Schneeberger today. The company’s shares closed last Tuesday at $63.41.
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 6.9% and a 59.8% success rate. Schneeberger covers the Services sector, focusing on stocks such as Fleetcor Technologies, Service International, and Target Hospitality.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mcgrath Rentcorp with a $74.00 average price target.
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Based on Mcgrath Rentcorp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $138 million and net profit of $22.55 million. In comparison, last year the company earned revenue of $127 million and had a net profit of $19.49 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGRC in relation to earlier this year.
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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.
