United Rentals (NYSE:URI) Price Target Raised to $790.00 at The Goldman Sachs Group

United Rentals (NYSE:URI) had its target price increased by stock analysts at The Goldman Sachs Group from $718.00 to $790.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 20.04% from the company’s previous close.

URI has been the subject of a number of other reports. BNP Paribas reissued an “underperform” rating and set a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Wells Fargo & Company upped their price objective on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Stifel Nicolaus increased their price target on shares of United Rentals from $494.00 to $591.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Robert W. Baird upped their price objective on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Finally, Barclays increased their price target on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $589.21.

United Rentals Price Performance

Shares of NYSE URI traded down $8.62 during midday trading on Tuesday, hitting $658.12. 58,185 shares of the company’s stock were exchanged, compared to its average volume of 568,507. United Rentals has a 12-month low of $325.15 and a 12-month high of $732.37. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The company has a market cap of $44.21 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.34 and a beta of 1.84. The business’s fifty day moving average price is $680.96 and its two-hundred day moving average price is $566.65.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, topping the consensus estimate of $10.85 by $0.41. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. United Rentals’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.74 earnings per share. As a group, research analysts forecast that United Rentals will post 43.05 EPS for the current fiscal year.

United Rentals declared that its board has approved a stock repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the transaction, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its position in shares of United Rentals by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock valued at $9,588,000 after buying an additional 1,304 shares in the last quarter. Graybill Wealth Management LTD. raised its holdings in shares of United Rentals by 0.6% during the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after buying an additional 58 shares during the period. Pinnacle Associates Ltd. increased its holdings in United Rentals by 55.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock worth $3,677,000 after purchasing an additional 2,289 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in United Rentals during the 4th quarter worth approximately $22,529,000. Finally, Teza Capital Management LLC increased its holdings in United Rentals by 40.5% during the 3rd quarter. Teza Capital Management LLC now owns 5,012 shares of the construction company’s stock worth $2,228,000 after purchasing an additional 1,445 shares during the last quarter. Hedge funds and other institutional investors own 96.26% 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 Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.