Wells Fargo & Company Initiates Coverage on United Rentals (NYSE:URI)

Analysts at Wells Fargo & Company initiated coverage on shares of United Rentals (NYSE:URI) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an “overweight” rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the company. Citigroup reaffirmed a “buy” rating on shares of United Rentals in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of United Rentals from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Bank of America raised their price target on United Rentals from $895.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein set a $1,128.00 price objective on United Rentals and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $975.61.

United Rentals Trading Down 1.2%

Shares of URI traded down $10.45 during midday trading on Thursday, hitting $832.82. The stock had a trading volume of 396,839 shares, compared to its average volume of 610,027. United Rentals has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.40. The firm has a market cap of $52.99 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 1.97 and a beta of 1.73. The business has a 50-day simple moving average of $931.67 and a two-hundred day simple moving average of $838.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 22nd. The construction company reported $11.70 EPS for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.16 billion. United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $11.80 earnings per share. United Rentals has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that United Rentals will post 44.8 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of United Rentals in the second quarter valued at approximately $776,102,000. JPMorgan Chase & Co. increased its stake in United Rentals by 71.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after acquiring an additional 780,322 shares during the period. Nuveen LLC acquired a new position in United Rentals in the 1st quarter valued at $402,291,000. Capital International Investors lifted its position in shares of United Rentals by 22.8% during the 3rd quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock valued at $3,247,762,000 after acquiring an additional 631,484 shares during the period. Finally, Boston Partners grew its holdings in shares of United Rentals by 74.5% during the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company’s stock worth $542,526,000 after purchasing an additional 305,378 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Company Profile

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.