kicked off on Monday, with McGrath Rentcorp (NASDAQ: MGRC) stock price up 4.72% from the previous day of trading, before settling in for the closing price of $99.30. MGRC’s price has ranged from $95.50 to $130.86 over the past 52 weeks.
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A company in the Industrials sector has jumped its sales by 11.30% annually for the last half of the decade. Meanwhile, its annual earnings per share averaged 8.88%. With a float of $24.14 million, this company’s outstanding shares have now reached $24.50 million.
In an organization with 1204 employees, it is important to assess its efficiency.
McGrath Rentcorp (MGRC) Insider Updates
As we move forward, let’s examine how large-scale investors are investing in this stock of the Rental & Leasing Services Industry. The insider ownership of McGrath Rentcorp is 1.66%, while institutional ownership is 88.24%. The most recent insider transaction that took place on Nov 03 ’23, was worth 441,150. In this transaction Sr. VP Business Strategy & Dev of this company sold 4,325 shares at a rate of $102.00, taking the stock ownership to the 4,073 shares. Before that another transaction happened on Nov 03 ’23, when Company’s Sr. VP Business Strategy & Dev sold 1,950 for $102.00, making the entire transaction worth $198,900. This insider now owns 3,820 shares in total.
McGrath Rentcorp (MGRC) Performance Highlights and Predictions
In its latest quarterly report, released on 6/30/2024, the company reported earnings of 1.49 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of 1.44 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 8.88% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 6.05% during the next five years compared to 7.34% growth over the previous five years of trading.
McGrath Rentcorp (NASDAQ: MGRC) Trading Performance Indicators
Here are McGrath Rentcorp’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 1.25. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.95.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 4.72, a number that is poised to hit 1.42 in the next quarter and is forecasted to reach 6.09 in one year’s time.
Technical Analysis of McGrath Rentcorp (MGRC)
Let’s dig in a bit further. During the last 5-days, its volume was 1.21 million. That was better than the volume of 0.23 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 52.05%. Additionally, its Average True Range was 3.04.
During the past 100 days, McGrath Rentcorp’s (MGRC) raw stochastic average was set at 39.35%, which indicates a significant decrease from 82.91% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 28.58% in the past 14 days, which was higher than the 24.96% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $105.90, while its 200-day Moving Average is $112.42. However, in the short run, McGrath Rentcorp’s stock first resistance to watch stands at $105.66. Second resistance stands at $107.33. The third major resistance level sits at $110.20. If the price goes on to break the first support level at $101.12, it is likely to go to the next support level at $98.25. Assuming the price breaks the second support level, the third support level stands at $96.58.
McGrath Rentcorp (NASDAQ: MGRC) Key Stats
With a market capitalization of 2.55 billion, the company has a total of 24,549K Shares Outstanding. Currently, annual sales are 831,840 K while annual income is 174,620 K. The company’s previous quarter sales were 212,610 K while its latest quarter income was 20,620 K.
