United Rentals’ (URI) “Outperform” Rating Reiterated at Royal Bank Of Canada

United Rentals (NYSE:URI)‘s stock had its “outperform” rating restated by Royal Bank Of Canada in a note issued to investors on Thursday, Benzinga reports. They currently have a $1,323.00 price objective on the construction company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 30.22% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. KeyCorp restated an “overweight” rating and set a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. Morgan Stanley set a $1,335.00 target price on United Rentals and gave the stock an “overweight” rating in a report on Friday, July 24th. Wall Street Zen downgraded United Rentals from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Truist Financial increased their target price on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price on the stock in a report on Monday, June 29th. Fifteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,243.63.

United Rentals Stock Down 1.6%

NYSE URI traded down $16.03 during mid-day trading on Thursday, reaching $1,015.96. 93,618 shares of the company’s stock traded hands, compared to its average volume of 561,203. United Rentals has a 1-year low of $701.59 and a 1-year high of $1,179.18. The company has a fifty day simple moving average of $1,066.89 and a 200-day simple moving average of $975.98. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The company has a market cap of $63.24 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 1.53 and a beta of 1.79.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 22nd. The construction company reported $12.76 earnings per share for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the firm earned $10.47 EPS. United Rentals’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts expect that United Rentals will post 48.7 EPS for the current year.

Insider Activity

In related news, EVP William Grace sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the sale, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

Institutional Trading of United Rentals

Hedge funds have recently made changes to their positions in the stock. SFE Investment Counsel bought a new stake in shares of United Rentals in the 2nd quarter worth approximately $12,765,000. Eventide Asset Management LLC raised its stake in United Rentals by 19.6% during the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock valued at $77,666,000 after acquiring an additional 15,696 shares in the last quarter. Bridges Investment Management Inc. raised its stake in United Rentals by 2.0% during the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock valued at $56,315,000 after acquiring an additional 1,354 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in United Rentals by 9.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,782 shares of the construction company’s stock valued at $7,855,000 after acquiring an additional 950 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in United Rentals by 9.8% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,447 shares of the construction company’s stock valued at $19,240,000 after acquiring an additional 2,350 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.