Truist Financial Issues Positive Forecast for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its price objective increased by Truist Financial from $1,209.00 to $1,421.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would suggest a potential upside of 27.58% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Citigroup increased their target price on United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a research note on Friday, April 24th. KeyCorp upped their price objective on United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Evercore reiterated an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. Morgan Stanley reissued an “overweight” rating and set a $1,030.00 price objective on shares of United Rentals in a report on Friday, April 24th. Finally, Robert W. Baird boosted their target price on United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,119.69.

United Rentals Price Performance

Shares of NYSE:URI opened at $1,113.81 on Thursday. The company’s fifty day moving average price is $1,006.44 and its 200-day moving average price is $888.89. The firm has a market capitalization of $69.78 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.81 and a beta of 1.79. United Rentals has a one year low of $701.59 and a one year high of $1,143.69. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter last year, the business posted $8.86 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that United Rentals will post 46.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president owned 1,865 shares in the company, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 over the last three months. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Rentals

A number of large investors have recently bought and sold shares of URI. Aventura Private Wealth LLC bought a new stake in United Rentals in the fourth quarter valued at approximately $27,000. Core Wealth Advisors LLC bought a new position in shares of United Rentals in the fourth quarter worth approximately $28,000. MV Capital Management Inc. purchased a new position in shares of United Rentals in the fourth quarter worth $28,000. Board of the Pension Protection Fund purchased a new position in shares of United Rentals in the fourth quarter worth $32,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of United Rentals in the fourth quarter worth $32,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.