United Rentals Inc. (URI) Raised to “Neutral” at Goldman Sachs Group Inc.
United Rentals Inc. (NYSE:URI) was upgraded by analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a research note issued on Thursday. The firm currently has a $90.00 target price on the stock, up from their prior target price of $66.00. Goldman Sachs Group Inc.’s price objective would suggest a potential upside of 1.28% from the company’s current price.
Several other equities research analysts have also issued reports on the company. Macquarie started coverage on United Rentals in a research report on Thursday, August 25th. They set an “underperform” rating and a $92.00 target price for the company. Bank of America Corp. raised United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a research report on Thursday, August 18th. Morgan Stanley lowered United Rentals from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $85.00 to $81.00 in a research report on Monday, October 24th. OTR Global raised United Rentals from a “mixed” rating to a “positive” rating in a research report on Friday, September 23rd. Finally, Argus began coverage on United Rentals in a research report on Tuesday, October 4th. They set a “buy” rating and a $90.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. United Rentals currently has a consensus rating of “Hold” and a consensus target price of $79.64.
United Rentals (NYSE:URI) traded up 2.25% during trading on Thursday, reaching $90.86. 1,216,890 shares of the company’s stock were exchanged. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 14.02 and a beta of 2.41. United Rentals has a 12 month low of $41.90 and a 12 month high of $92.80. The firm’s 50-day moving average price is $77.02 and its 200-day moving average price is $73.43.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, October 19th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.14. The business earned $1.51 billion during the quarter, compared to analyst estimates of $841 million. United Rentals had a return on equity of 48.98% and a net margin of 10.10%. United Rentals’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 EPS. On average, equities research analysts anticipate that United Rentals will post $8.29 EPS for the current year.
In related news, CFO William B. Plummer sold 15,811 shares of United Rentals stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $78.74, for a total transaction of $1,244,958.14. Following the sale, the chief financial officer now directly owns 73,209 shares in the company, valued at $5,764,476.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Keith Wimbush sold 800 shares of United Rentals stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $76.35, for a total value of $61,080.00. Following the sale, the director now owns 5,820 shares in the company, valued at $444,357. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in United Rentals by 25.4% in the third quarter. Bank of Montreal Can now owns 2,261,543 shares of the company’s stock valued at $177,509,000 after buying an additional 458,070 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in United Rentals by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,131,681 shares of the company’s stock valued at $143,022,000 after buying an additional 427,970 shares in the last quarter. BlackRock Fund Advisors raised its stake in United Rentals by 1.4% in the third quarter. BlackRock Fund Advisors now owns 1,477,320 shares of the company’s stock valued at $115,955,000 after buying an additional 19,787 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in United Rentals by 54.8% in the third quarter. TIAA CREF Investment Management LLC now owns 1,009,710 shares of the company’s stock valued at $79,252,000 after buying an additional 357,431 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in United Rentals by 2.4% in the first quarter. Geode Capital Management LLC now owns 743,898 shares of the company’s stock valued at $46,167,000 after buying an additional 17,749 shares in the last quarter. Institutional investors own 91.72% of the company’s stock.
United Rentals Company Profile
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, general tools and light equipment, such as pressure washers, water pumps and power tools.
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