United Rentals (NYSE:URI) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

United Rentals (NYSE:URI) had its price target boosted by stock analysts at The Goldman Sachs Group from $770.00 to $850.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 18.12% from the stock’s current price.

A number of other brokerages have also recently issued reports on URI. Truist Financial increased their price objective on United Rentals from $732.00 to $786.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Cfra Research raised United Rentals to a “strong-buy” rating in a report on Friday, April 25th. Morgan Stanley raised United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price objective on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised their price target on United Rentals from $780.00 to $920.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Finally, Evercore ISI cut their price objective on United Rentals from $974.00 to $921.00 and set an “outperform” rating for the company in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and an average price target of $753.15.

United Rentals Stock Performance

Shares of URI stock traded up $19.50 on Tuesday, hitting $719.60. 145,904 shares of the stock were exchanged, compared to its average volume of 601,522. The firm’s 50 day moving average is $637.86 and its two-hundred day moving average is $704.22. The firm has a market capitalization of $46.77 billion, a PE ratio of 18.57, a P/E/G ratio of 1.43 and a beta of 1.70. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals has a one year low of $525.91 and a one year high of $896.98.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company posted $9.15 EPS. Sell-side analysts expect that United Rentals will post 44.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the sale, the executive vice president now owns 8,748 shares of the company’s stock, valued at $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the sale, the vice president now owns 1,921 shares of the company’s stock, valued at $1,355,957.06. The trade was a 26.93% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Institutional Trading of United Rentals

Several hedge funds and other institutional investors have recently bought and sold shares of URI. JPMorgan Chase & Co. lifted its position in United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares during the last quarter. Mutual Advisors LLC bought a new stake in United Rentals in the fourth quarter valued at approximately $235,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in United Rentals by 65.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 541 shares of the construction company’s stock valued at $381,000 after purchasing an additional 214 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in United Rentals in the fourth quarter valued at approximately $368,000. Finally, Blue Trust Inc. raised its holdings in shares of United Rentals by 21.2% during the fourth quarter. Blue Trust Inc. now owns 1,098 shares of the construction company’s stock valued at $773,000 after acquiring an additional 192 shares in the last quarter. 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.