Zacks Investment Research upgraded shares of United Rentals, Inc. (NYSE:URI) from a hold rating to a buy rating in a research report released on Thursday morning. They currently have $160.00 target price on the construction company’s stock.
According to Zacks, “United Rentals is the largest equipment rental company in the world with strong brand recognition. The company’s main strategy is to improve profitability of its core equipment rental business through revenue growth, margin expansion and operational efficiencies. It is also focused on expanding its geographic borders and product portfolio through acquisitions and joint ventures. Also, United Rentals’ shares gained 69.1% in the past year, outperforming the industry it belongs to. The addition of NES Rentals is expected to significantly boost growth, driving the stock’s performance in the upcoming quarters as well.”
Several other equities analysts also recently weighed in on the company. Deutsche Bank AG restated a hold rating and set a $157.00 price target (up from $130.00) on shares of United Rentals in a report on Tuesday, October 3rd. Jefferies Group LLC restated a buy rating and set a $150.00 price target on shares of United Rentals in a report on Thursday, September 21st. ValuEngine upgraded United Rentals from a buy rating to a strong-buy rating in a report on Friday, September 1st. UBS AG restated a neutral rating and set a $125.00 price target on shares of United Rentals in a report on Sunday, August 20th. Finally, Stifel Nicolaus upgraded United Rentals from a hold rating to a buy rating and set a $133.00 price target for the company in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $133.17.
United Rentals (NYSE:URI) opened at 142.24 on Thursday. The firm’s 50-day moving average is $125.85 and its 200-day moving average is $116.89. The stock has a market capitalization of $12.02 billion, a P/E ratio of 20.66 and a beta of 2.46. United Rentals has a 12-month low of $70.58 and a 12-month high of $143.15.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.09. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $2.06 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. Analysts predict that United Rentals will post $9.94 EPS for the current fiscal year.
In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $120.77, for a total value of $3,623,100.00. Following the transaction, the insider now directly owns 302,292 shares of the company’s stock, valued at $36,507,804.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William B. Plummer sold 5,301 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $128.26, for a total value of $679,906.26. Following the completion of the transaction, the chief financial officer now directly owns 38,055 shares in the company, valued at $4,880,934.30. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Fulton Bank N.A. boosted its position in United Rentals by 20.7% in the third quarter. Fulton Bank N.A. now owns 11,308 shares of the construction company’s stock worth $1,568,000 after purchasing an additional 1,939 shares during the last quarter. Eqis Capital Management Inc. boosted its position in United Rentals by 16.6% in the third quarter. Eqis Capital Management Inc. now owns 3,444 shares of the construction company’s stock worth $478,000 after purchasing an additional 490 shares during the last quarter. Ardsley Advisory Partners purchased a new position in United Rentals in the second quarter worth about $9,017,000. Achmea Investment Management B.V. boosted its position in United Rentals by 80.5% in the second quarter. Achmea Investment Management B.V. now owns 13,164 shares of the construction company’s stock worth $1,482,000 after purchasing an additional 5,871 shares during the last quarter. Finally, United Bank VA purchased a new position in United Rentals in the second quarter worth about $2,063,000. 93.75% of the stock is currently owned by institutional investors and hedge funds.
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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