Wall Street Zen Upgrades United Rentals (NYSE:URI) to “Buy”

United Rentals (NYSE:URI) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities research analysts have also recently issued reports about the company. BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price on the stock in a report on Monday, June 29th. Royal Bank Of Canada increased their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. KeyCorp restated an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a report on Friday. Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the stock an “overweight” rating in a research note on Friday. Finally, Bank of America upped their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $1,226.50.

United Rentals Stock Performance

Shares of NYSE URI opened at $1,140.19 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The company has a market cap of $70.97 billion, a P/E ratio of 27.38, a P/E/G ratio of 1.51 and a beta of 1.79. The firm’s fifty day moving average is $1,052.87 and its two-hundred day moving average is $919.31. United Rentals has a 52-week low of $701.59 and a 52-week high of $1,177.67.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the company earned $10.47 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that United Rentals will post 47.32 EPS for the current fiscal year.

Institutional Investors Weigh In On United Rentals

Several large investors have recently added to or reduced their stakes in URI. Norges Bank bought a new stake in shares of United Rentals in the 4th quarter valued at approximately $978,017,000. Corient Private Wealth LLC increased its position in shares of United Rentals by 1,667.4% during the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock valued at $278,378,000 after purchasing an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after purchasing an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in United Rentals during the 4th quarter valued at $102,945,000. Finally, Victory Capital Management Inc. raised its holdings in United Rentals by 103.7% during the 4th quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock valued at $186,967,000 after buying an additional 117,584 shares during the period. 96.26% of the stock is owned by institutional investors.

United Rentals News Roundup

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.