Brokerages Set United Rentals, Inc. (NYSE:URI) Target Price at $1,246.19

Shares of United Rentals, Inc. (NYSE:URI) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $1,246.1875.

URI has been the topic of several analyst reports. Zacks Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. KeyCorp restated an “overweight” rating and issued a $1,350.00 price target on shares of United Rentals in a research report on Friday, July 24th. Barclays raised their price objective on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research note on Friday, July 24th. Morgan Stanley set a $1,335.00 price objective on shares of United Rentals and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an “overweight” rating in a research note on Friday, July 24th.

Insider Transactions at United Rentals

In related news, EVP William Grace sold 1,500 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of United Rentals during the 2nd quarter valued at $29,000. MidFirst Bank acquired a new position in shares of United Rentals in the second quarter worth $31,000. Core Wealth Advisors LLC acquired a new position in shares of United Rentals in the fourth quarter worth $28,000. MV Capital Management Inc. purchased a new stake in shares of United Rentals during the fourth quarter worth $28,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of United Rentals during the second quarter worth $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 1.7%

Shares of NYSE URI opened at $1,032.23 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. United Rentals has a 12 month low of $701.59 and a 12 month high of $1,179.18. The company has a market cap of $64.25 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.49 and a beta of 1.79. The business has a fifty day simple moving average of $1,081.18 and a 200-day simple moving average of $965.34.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 22nd. The construction company reported $12.76 earnings per share for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter last year, the business posted $10.47 EPS. United Rentals’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts predict that United Rentals will post 48.59 EPS for the current year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.