Could McGrath RentCorp (MGRC) Change Direction After Reaching 52-Week High?

May 16, 2018 - By Matt Thomas

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.
Wells Fargo And Mn invested 0% in McGrath RentCorp (NASDAQ:MGRC). Skyline Asset Management Limited Partnership has invested 1.59% in McGrath RentCorp (NASDAQ:MGRC). Martingale Asset Mngmt Ltd Partnership invested 0.05% in McGrath RentCorp (NASDAQ:MGRC). 12,385 are owned by Susquehanna Intll Gp Ltd Liability Partnership. Dimensional Fund Advsrs Lp owns 1.81 million shares. Georgia-based Cornercap Counsel has invested 0.1% in McGrath RentCorp (NASDAQ:MGRC). Renaissance Technology Ltd Liability Com reported 0.03% stake. Lsv Asset invested in 0% or 19,200 shares. Numeric Invsts Llc holds 0.04% of its portfolio in McGrath RentCorp (NASDAQ:MGRC) for 109,985 shares. Stewart & Patten Limited Liability stated it has 13,200 shares or 0.11% of all its holdings. Tiaa Cref Investment Mgmt Ltd Llc holds 0% or 55,989 shares. Victory Incorporated invested in 0% or 17,582 shares. Comerica Bancorp holds 0.02% or 48,524 shares in its portfolio. 1.32 million were accumulated by Brown Advisory. Manufacturers Life The holds 0% of its portfolio in McGrath RentCorp (NASDAQ:MGRC) for 17,794 shares.

Since March 1, 2018, it had 0 buys, and 17 selling transactions for $4.62 million activity. ZECH RONALD H also sold $103,641 worth of McGrath RentCorp (NASDAQ:MGRC) on Thursday, March 1. 7,788 shares were sold by Hawkins Philip B, worth $396,460. $186,630 worth of McGrath RentCorp (NASDAQ:MGRC) was sold by FETTER ELIZABETH A. Skenesky John P had sold 4,265 shares worth $217,444 on Monday, March 5. VAN TREASE KRISTINA also sold $147,775 worth of McGrath RentCorp (NASDAQ:MGRC) shares. Whitney David M also sold $147,775 worth of McGrath RentCorp (NASDAQ:MGRC) on Thursday, March 1.

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 EPS, up 35.42 % or $0.17 from last year’s $0.48 per share. MGRC’s profit will be $15.68 million for 24.89 P/E if the $0.65 EPS becomes a reality. After $0.48 actual EPS 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: Seekingalpha.com, which released: “McGrath RentCorp up 2% post Q1 results” on May 02, 2018. Globenewswire.com‘s article titled: “McGrath RentCorp Announces Results for First Quarter 2018” and published on May 01, 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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