United Rentals (NYSE:URI) Given New $796.00 Price Target at Truist Financial

United Rentals (NYSE:URI) had its target price hoisted by stock analysts at Truist Financial from $793.00 to $796.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target suggests a potential upside of 19.19% from the company’s current price.

A number of other equities research analysts also recently weighed in on URI. Wells Fargo & Company upped their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Stifel Nicolaus lifted their target price on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays upped their price target on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 26th. Evercore ISI lifted their price objective on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, 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. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, United Rentals has an average rating of “Hold” and a consensus target price of $600.79.

United Rentals Stock Down 6.3 %

Shares of United Rentals stock opened at $667.82 on Monday. United Rentals has a twelve month low of $325.15 and a twelve month high of $732.37. The stock has a market capitalization of $44.47 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.10 and a beta of 1.84. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The business’s 50 day simple moving average is $682.42 and its 200-day simple moving average is $582.31.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the prior year, the firm earned $7.95 EPS. United Rentals’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that United Rentals will post 43.54 earnings per share for the current year.

United Rentals announced that its Board of Directors has approved a stock buyback program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction dated 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 of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William E. Grace sold 775 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of URI. Janney Montgomery Scott LLC grew its position in United Rentals by 6.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock worth $9,588,000 after purchasing an additional 1,304 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in United Rentals in the 4th quarter valued at approximately $2,351,000. Verdence Capital Advisors LLC bought a new stake in shares of United Rentals in the 4th quarter worth approximately $257,000. Graybill Wealth Management LTD. increased its position in shares of United Rentals by 0.6% during the third quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after purchasing an additional 58 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in shares of United Rentals by 55.5% in the fourth quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after purchasing an additional 2,289 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

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.