United Rentals Inc. (URI) PT Raised to $115.00 at Jefferies Group
United Rentals Inc. (NYSE:URI) had its target price lifted by equities researchers at Jefferies Group from $92.00 to $115.00 in a report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 13.74% from the stock’s current price.
Several other analysts have also commented on URI. Bank of America Corp. raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 price objective on the stock in a research report on Thursday, August 18th. Macquarie started coverage on shares of United Rentals in a research report on Thursday, August 25th. They issued an “underperform” rating and a $92.00 price objective on the stock. Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research report on Tuesday, August 30th. Deutsche Bank AG started coverage on shares of United Rentals in a research report on Tuesday, September 6th. They issued a “hold” rating and a $79.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $81.48.
Shares of United Rentals (NYSE:URI) opened at 101.11 on Tuesday. The company has a market cap of $8.52 billion, a P/E ratio of 15.60 and a beta of 2.41. The stock’s 50 day moving average is $83.64 and its 200-day moving average is $76.61. United Rentals has a one year low of $41.90 and a one year high of $101.87.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, October 19th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.14. United Rentals had a net margin of 10.10% and a return on equity of 48.98%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $841 million. During the same period last year, the firm earned $2.57 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Equities research analysts forecast that United Rentals will post $8.29 earnings per share for the current year.
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In other United Rentals news, Director Jenne K. Britell sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $93.96, for a total value of $300,672.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Adam Pintoff sold 1,689 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $91.62, for a total transaction of $154,746.18. Following the completion of the transaction, the insider now directly owns 30,991 shares of the company’s stock, valued at approximately $2,839,395.42. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of United Rentals by 25.4% in the third quarter. Bank of Montreal Can now owns 2,261,543 shares of the company’s stock worth $177,509,000 after buying an additional 458,070 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of United Rentals by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,131,681 shares of the company’s stock worth $143,022,000 after buying an additional 427,970 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of United Rentals during the third quarter worth $150,256,000. BlackRock Fund Advisors raised its stake in shares of United Rentals by 1.4% in the third quarter. BlackRock Fund Advisors now owns 1,477,320 shares of the company’s stock worth $115,955,000 after buying an additional 19,787 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of 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 worth $79,252,000 after buying an additional 357,431 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.
About United Rentals
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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