United Rentals, Inc. (NYSE:URI) had its target price increased by equities research analysts at Citigroup Inc. from $165.00 to $170.00 in a research note issued to investors on Friday, October 20th. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 14.29% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Axiom Securities restated a “sell” rating on shares of United Rentals in a research report on Wednesday, July 26th. Stifel Nicolaus restated a “hold” rating on shares of United Rentals in a research report on Friday, July 21st. Bank of America Corporation restated a “buy” rating and issued a $145.00 price objective (up previously from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. BidaskClub raised shares of United Rentals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of United Rentals in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $144.97.
Shares of United Rentals (NYSE URI) traded up $1.19 on Friday, hitting $148.74. 917,616 shares of the stock traded hands, compared to its average volume of 1,370,000. United Rentals has a twelve month low of $74.43 and a twelve month high of $149.45. The firm has a market capitalization of $12,580.00, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 0.90 and a beta of 2.65. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 3.47.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.27. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. United Rentals had a net margin of 9.64% and a return on equity of 44.81%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 earnings per share. sell-side analysts forecast that United Rentals will post 10.49 earnings per share for the current fiscal year.
United Rentals declared that its board has authorized a stock buyback plan on Wednesday, October 18th that allows the company to buyback $373.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other United Rentals news, Director Filippo Passerini sold 3,308 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $143.24, for a total value of $473,837.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Matthew John Flannery sold 22,324 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $147.44, for a total transaction of $3,291,450.56. Following the completion of the transaction, the chief operating officer now owns 31,243 shares in the company, valued at approximately $4,606,467.92. The disclosure for this sale can be found here. Insiders have sold a total of 65,433 shares of company stock worth $9,434,570 in the last 90 days. Company insiders own 1.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in URI. Dumont & Blake Investment Advisors LLC grew its position in shares of United Rentals by 0.3% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 5,360 shares of the construction company’s stock valued at $604,000 after buying an additional 15 shares during the last quarter. Profund Advisors LLC grew its position in shares of United Rentals by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 2,256 shares of the construction company’s stock valued at $254,000 after buying an additional 24 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of United Rentals by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,279 shares of the construction company’s stock valued at $708,000 after buying an additional 25 shares during the last quarter. Bank of Hawaii grew its position in shares of United Rentals by 0.3% during the 2nd quarter. Bank of Hawaii now owns 11,330 shares of the construction company’s stock valued at $1,277,000 after buying an additional 30 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in shares of United Rentals by 0.7% during the 2nd quarter. Alps Advisors Inc. now owns 9,511 shares of the construction company’s stock valued at $1,072,000 after buying an additional 62 shares during the last quarter. 93.27% of the stock is owned by institutional investors.
United Rentals Company Profile
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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