United Rentals (URI) Stock Rating Reaffirmed by Jefferies Group
United Rentals (NYSE:URI)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group in a research report issued to clients and investors on Tuesday, The Fly reports. They currently have a $210.00 price objective on the construction company’s stock. Jefferies Group’s target price suggests a potential upside of 16.67% from the stock’s previous close. Jefferies Group also issued estimates for United Rentals’ Q4 2017 earnings at $3.53 EPS, FY2017 earnings at $10.79 EPS, FY2018 earnings at $16.87 EPS and FY2019 earnings at $19.70 EPS.
A number of other analysts have also recently weighed in on the stock. Bank of America raised shares of United Rentals to a “buy” rating and increased their price objective for the stock from $165.00 to $195.00 in a report on Tuesday, December 19th. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Wednesday, September 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $171.00 price objective on shares of United Rentals in a report on Thursday, December 14th. Barclays started coverage on shares of United Rentals in a report on Tuesday, December 12th. They issued an “underweight” rating and a $150.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of United Rentals from $142.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. United Rentals currently has a consensus rating of “Buy” and a consensus target price of $162.89.
United Rentals (URI) traded down $0.17 during mid-day trading on Tuesday, hitting $180.00. 55,498 shares of the company were exchanged, compared to its average volume of 1,087,836. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.88 and a current ratio of 0.92. United Rentals has a 1-year low of $100.62 and a 1-year high of $184.00. The firm has a market cap of $15,280.00, a PE ratio of 25.53, a PEG ratio of 0.75 and a beta of 2.67.
United Rentals declared that its board has approved a stock buyback plan on Wednesday, October 18th that authorizes the company to buyback $373.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other news, Director Filippo Passerini sold 3,308 shares of United Rentals stock in a transaction that occurred 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 legal filing with the SEC, which is available at this link. Also, Director Singleton B. Mcallister sold 2,200 shares of United Rentals stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $163.67, for a total transaction of $360,074.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,760 shares of company stock worth $13,873,111. 1.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in URI. State Street Corp grew its stake in shares of United Rentals by 15.0% in the 2nd quarter. State Street Corp now owns 5,843,162 shares of the construction company’s stock worth $658,586,000 after purchasing an additional 763,469 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of United Rentals by 4,154.0% in the 2nd quarter. Janus Henderson Group PLC now owns 552,510 shares of the construction company’s stock worth $62,273,000 after purchasing an additional 539,522 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of United Rentals by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 9,531,812 shares of the construction company’s stock worth $1,074,330,000 after purchasing an additional 378,365 shares during the last quarter. Gotham Asset Management LLC grew its stake in shares of United Rentals by 189.9% in the 2nd quarter. Gotham Asset Management LLC now owns 377,718 shares of the construction company’s stock worth $42,573,000 after purchasing an additional 247,443 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of United Rentals by 3.3% in the second quarter. BlackRock Inc. now owns 6,025,017 shares of the construction company’s stock worth $679,080,000 after buying an additional 190,803 shares during the period. 91.48% of the stock is currently owned by institutional investors.
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About United Rentals
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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