Recent exceptional positive changes in investment behavior have benefitted McGrath RentCorp (NASDAQ: MGRC): its shorter term price trend turned up, its longer term price trend turned up, and the stock rose on very heavy volume.
McGrath RentCorp (NASDAQ: MGRC) has benefited from small positive changes in fundamentals: the stock’s power rating rose above 70.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, MGRC is expected to continue to be a Value Builder.
McGrath RentCorp has a current Value Trend Rating of C (Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. McGrath RentCorp has a slightly negative Appreciation Score of 33 but a good Power Rating of 79, triggering the Neutral Value Trend Rating.
Recent Price Action
On 11/2/23, McGrath RentCorp (NASDAQ: MGRC) stock increased 1.8%, closing at $100.81. Relative to the market the stock has been strong over the last nine months and has risen 3.9% during the last week.
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