Fintel reports that on October 6, 2023, Oppenheimer maintained coverage of McGrath Rentcorp (NASDAQ:MGRC) with a Outperform recommendation.
Analyst Price Forecast Suggests 23.91% Upside
As of October 5, 2023, the average one-year price target for McGrath Rentcorp is 122.91. The forecasts range from a low of 115.14 to a high of $133.35. The average price target represents an increase of 23.91% from its latest reported closing price of 99.19.
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The projected annual revenue for McGrath Rentcorp is 770MM, a decrease of 6.37%. The projected annual non-GAAP EPS is 4.72.
What is the Fund Sentiment?
There are 446 funds or institutions reporting positions in McGrath Rentcorp. This is a decrease of 37 owner(s) or 7.66% in the last quarter. Average portfolio weight of all funds dedicated to MGRC is 0.21%, a decrease of 9.75%. Total shares owned by institutions increased in the last three months by 0.82% to 25,075K shares. 
The put/call ratio of MGRC is 0.16, indicating a bullish outlook.
What are Other Shareholders Doing?
Franklin Resources holds 1,838K shares representing 7.51% ownership of the company. In it's prior filing, the firm reported owning 1,441K shares, representing an increase of 21.58%. The firm increased its portfolio allocation in MGRC by 439.86% over the last quarter.
FRVLX - Franklin Small Cap Value Fund holds 1,359K shares representing 5.55% ownership of the company. In it's prior filing, the firm reported owning 1,005K shares, representing an increase of 26.03%. The firm increased its portfolio allocation in MGRC by 36.43% over the last quarter.
Victory Capital Management holds 1,107K shares representing 4.52% ownership of the company. In it's prior filing, the firm reported owning 1,044K shares, representing an increase of 5.76%. The firm increased its portfolio allocation in MGRC by 2.53% over the last quarter.
T. Rowe Price Investment Management holds 975K shares representing 3.98% ownership of the company. In it's prior filing, the firm reported owning 879K shares, representing an increase of 9.93%. The firm increased its portfolio allocation in MGRC by 4.54% over the last quarter.
River Road Asset Management holds 791K shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 694K shares, representing an increase of 12.37%. The firm increased its portfolio allocation in MGRC by 14.46% over the last quarter.
McGrath Rentcorp Background Information
(This description is provided by the company.)
Founded in 1979, McGrath RentCorp is a diversified business-to-business rental company providing modular buildings, electronic test equipment, portable storage and tank containment solutions across the United States and other select North American regions. The Company's rental operations consist of four divisions: Mobile Modular rents and sells modular buildings to fulfill customers' temporary and permanent classroom and office space needs; TRS-RenTelco rents and sells electronic test equipment; Adler Tank Rentals rents and sells containment solutions for hazardous and nonhazardous liquids and solids; and Mobile Modular Portable Storage provides portable storage rental solutions.
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