Royal Bank Of Canada Reiterates “Outperform” Rating for United Rentals (NYSE:URI)

United Rentals (NYSE:URI)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a report issued on Thursday, Benzinga reports. They presently have a $1,323.00 price target on the construction company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 29.59% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. BNP Paribas Exane upgraded United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a report on Monday, June 29th. Raymond James Financial reiterated an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. Citigroup reiterated a “buy” rating on shares of United Rentals in a report on Monday, September 14th. Truist Financial boosted their price target on United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Morgan Stanley set a $1,335.00 price target on United Rentals and gave the company an “overweight” rating in a report on Friday, July 24th. Fifteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,243.63.

United Rentals Stock Down 1.1%

URI stock traded down $11.04 during midday trading on Thursday, hitting $1,020.95. 233,446 shares of the company’s stock were exchanged, compared to its average volume of 562,073. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. United Rentals has a 12-month low of $701.59 and a 12-month high of $1,179.18. The firm has a 50 day moving average price of $1,066.89 and a 200-day moving average price of $975.98. The stock has a market capitalization of $63.55 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.53 and a beta of 1.79.

United Rentals (NYSE:URI) last issued its quarterly earnings results 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 business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the business earned $10.47 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that United Rentals will post 48.7 EPS for the current year.

Insider Buying and Selling

In related news, EVP William Grace sold 1,500 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in URI. QRG Capital Management Inc. grew its stake in United Rentals by 9.2% during the 2nd quarter. QRG Capital Management Inc. now owns 3,818 shares of the construction company’s stock worth $4,325,000 after buying an additional 322 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in United Rentals by 62.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 946 shares of the construction company’s stock worth $1,072,000 after buying an additional 363 shares during the last quarter. State Street Corp grew its stake in United Rentals by 1.1% during the 2nd quarter. State Street Corp now owns 2,993,837 shares of the construction company’s stock worth $3,391,688,000 after buying an additional 32,238 shares during the last quarter. Bouchey Financial Group Ltd. grew its stake in United Rentals by 4.4% during the 2nd quarter. Bouchey Financial Group Ltd. now owns 379 shares of the construction company’s stock worth $429,000 after buying an additional 16 shares during the last quarter. Finally, Capstone Financial Advisors Inc. bought a new position in United Rentals during the 2nd quarter worth $276,000. 96.26% of the stock is currently owned by institutional investors.

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.