Brokerages Set United Rentals, Inc. (URI) Price Target at $129.43
Shares of United Rentals, Inc. (NYSE:URI) have been assigned an average recommendation of “Buy” from the twenty-one analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $129.43.
A number of research analysts have recently issued reports on URI shares. BidaskClub upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Jefferies Group LLC reiterated a “buy” rating and set a $150.00 price target on shares of United Rentals in a research note on Friday, June 9th. ValuEngine lowered shares of United Rentals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 20th. Bank of America Corporation reiterated a “buy” rating and set a $145.00 price target (up from $130.00) on shares of United Rentals in a research note on Thursday, July 20th. Finally, Citigroup Inc. boosted their price target on shares of United Rentals from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 21st.
In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $120.77, for a total value of $3,623,100.00. Following the sale, the insider now owns 302,292 shares of the company’s stock, valued at $36,507,804.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. First Manhattan Co. lifted its stake in shares of United Rentals by 4,204.3% during the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after buying an additional 967 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of United Rentals during the first quarter valued at approximately $127,000. Americafirst Capital Management LLC purchased a new position in shares of United Rentals during the second quarter valued at approximately $151,000. Huntington National Bank lifted its stake in shares of United Rentals by 14.2% during the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock valued at $163,000 after buying an additional 179 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of United Rentals by 40.4% during the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock valued at $187,000 after buying an additional 478 shares during the period. 93.72% of the stock is currently owned by institutional investors and hedge funds.
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United Rentals (URI) traded up 0.58% during midday trading on Tuesday, hitting $128.10. 1,119,491 shares of the stock traded hands. The company’s 50 day moving average is $116.75 and its 200-day moving average is $115.87. United Rentals has a one year low of $70.58 and a one year high of $134.28. The company has a market cap of $10.83 billion, a P/E ratio of 18.61 and a beta of 2.42.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.09. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the business posted $2.06 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that United Rentals will post $9.91 EPS for the current fiscal year.
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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