United Rentals (NYSE:URI) Price Target Raised to $180.00 at Citigroup
United Rentals (NYSE:URI) had its price target raised by Citigroup from $160.00 to $180.00 in a report released on Wednesday, The Fly reports. Citigroup currently has a buy rating on the construction company’s stock.
Several other research analysts have also weighed in on the stock. UBS Group lowered shares of United Rentals from a buy rating to a neutral rating and decreased their price objective for the stock from $166.00 to $118.00 in a report on Tuesday, October 8th. Zacks Investment Research raised shares of United Rentals from a sell rating to a hold rating and set a $119.00 price objective for the company in a report on Friday, October 11th. Goldman Sachs Group raised their price objective on shares of United Rentals from $165.00 to $180.00 and gave the stock a buy rating in a report on Friday, November 8th. Buckingham Research reissued a buy rating and set a $180.00 price objective (up from $170.00) on shares of United Rentals in a report on Monday, November 11th. Finally, ValuEngine lowered shares of United Rentals from a sell rating to a strong sell rating in a report on Saturday, October 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $145.40.
URI stock traded up $4.83 during mid-day trading on Wednesday, hitting $161.80. 435,935 shares of the company were exchanged, compared to its average volume of 993,802. The company has a market capitalization of $11.71 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 0.67 and a beta of 2.71. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 2.93. United Rentals has a twelve month low of $94.28 and a twelve month high of $159.39. The firm has a fifty day simple moving average of $148.94 and a 200 day simple moving average of $128.26.
In other news, SVP Jeffrey J. Fenton sold 2,735 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $132.53, for a total value of $362,469.55. Following the transaction, the senior vice president now directly owns 33,819 shares in the company, valued at approximately $4,482,032.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Kneeland sold 22,999 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $151.08, for a total transaction of $3,474,688.92. Following the completion of the transaction, the director now owns 181,973 shares in the company, valued at $27,492,480.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,770 shares of company stock worth $4,292,710. Insiders own 1.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of URI. Pendal Group Ltd bought a new stake in United Rentals in the 2nd quarter valued at about $465,000. Lyrical Asset Management LP increased its stake in United Rentals by 38.0% during the 2nd quarter. Lyrical Asset Management LP now owns 2,220,998 shares of the construction company’s stock valued at $294,571,000 after buying an additional 611,715 shares during the period. Malaga Cove Capital LLC acquired a new position in United Rentals during the 3rd quarter valued at about $2,196,000. Glen Harbor Capital Management LLC increased its stake in United Rentals by 49.1% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 18,160 shares of the construction company’s stock valued at $2,409,000 after buying an additional 5,984 shares during the period. Finally, Impala Asset Management LLC increased its stake in United Rentals by 359.6% during the 2nd quarter. Impala Asset Management LLC now owns 233,254 shares of the construction company’s stock valued at $30,936,000 after buying an additional 182,503 shares during the period. Institutional investors own 88.39% of the company’s stock.
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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