Why McGrath RentCorp Stock Slumped on Wednesday [Yahoo! Finance]
McGrath RentCorp (MGRC)
Last mcgrath rentcorp earnings: 4/29 04:01 pm
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mgrc.com/investors
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Source: Yahoo! Finance
In its 45-year history, McGrath RentCorp (NASDAQ: MGRC) has had many encouraging pieces of news to report to its shareholders and the world at large. Unfortunately for the business-to-business equipment rental specialist, its top news item on Wednesday wasn't so positive. On the back of that, investors traded out of the stock to leave it with an over 3% decline in price. This was a more pronounced slide than the 0.3% dip of the S&P 500 index on the day. Merger deal terminated McGrath announced that it and peer WillScot Holdings (NASDAQ: WSC) have mutually agreed to cancel their planned merger. Per the terms of the two companies' merger agreement, McGrath is to receive a termination fee of $180 million from WillScot. The pair originally announced the tie-up in January. Under the terms of their deal, WillScot was to acquire McGrath for $3.8 billion in cash and stock, with the former comprising 60% of the purchase and the latter the remainder. That amount represented a premium of
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MGRC
News
- McGrath RentCorp (NASDAQ: MGRC) had its price target raised by analysts at Oppenheimer Holdings Inc. from $124.00 to $139.00. They now have an "outperform" rating on the stock.MarketBeat
- McGrath to Present at the Baird 2024 Global Industrial ConferenceBusiness Wire
- WillScot Reports Third Quarter 2024 Results [Financial Post (Toronto, Ontario, Canada)]Financial Post
- McGrath RentCorp (NASDAQ: MGRC) had its price target raised by analysts at Oppenheimer Holdings Inc. from $120.00 to $124.00. They now have an "outperform" rating on the stock.MarketBeat
- McGrath RentCorp (MGRC) Q3 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
MGRC
Earnings
- 10/24/24 - Beat
MGRC
Sec Filings
- 11/7/24 - Form 4
- 11/7/24 - Form 144
- 11/6/24 - Form 144
- MGRC's page on the SEC website