United Rentals, Inc. (NYSE:URI)‘s stock had its “overweight” rating restated by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Saturday, April 22nd. They presently have a $144.00 price target on the construction company’s stock, down from their prior price target of $156.00. Piper Jaffray Companies’ price objective indicates a potential upside of 30.79% from the company’s current price.
Other research analysts have also issued reports about the stock. Jefferies Group LLC increased their price objective on shares of United Rentals from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, December 27th. Citigroup Inc increased their price objective on shares of United Rentals from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, January 26th. Vetr upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $132.19 price objective on the stock in a report on Wednesday, March 8th. Finally, Argus lowered shares of United Rentals from a “buy” rating to a “hold” rating in a report on Thursday, February 2nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $120.16.
Shares of United Rentals (NYSE:URI) traded up 3.38% during mid-day trading on Friday, reaching $110.10. 1,706,189 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $115.17 and a 200 day moving average price of $112.62. United Rentals has a 12-month low of $61.78 and a 12-month high of $134.28. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 16.32 and a beta of 2.49.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 19th. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.12. United Rentals had a net margin of 9.82% and a return on equity of 50.17%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts anticipate that United Rentals will post $9.67 EPS for the current fiscal year.
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In other news, Director Singleton B. Mcallister sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $128.03, for a total transaction of $422,499.00. Following the completion of the sale, the director now owns 16,688 shares of the company’s stock, valued at $2,136,564.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew John Flannery sold 18,785 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $124.47, for a total transaction of $2,338,168.95. Following the sale, the chief operating officer now directly owns 30,426 shares of the company’s stock, valued at approximately $3,787,124.22. The disclosure for this sale can be found here. Insiders have sold 30,571 shares of company stock valued at $3,815,643 in the last three months. Corporate insiders own 1.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia increased its position in United Rentals by 102.8% in the first quarter. Bank of Nova Scotia now owns 34,496 shares of the construction company’s stock worth $4,314,000 after buying an additional 17,485 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in United Rentals during the first quarter worth approximately $3,752,000. Janus Capital Management LLC increased its position in United Rentals by 2.0% in the first quarter. Janus Capital Management LLC now owns 560,508 shares of the construction company’s stock worth $70,092,000 after buying an additional 11,018 shares in the last quarter. HighTower Advisors LLC increased its position in United Rentals by 4.6% in the first quarter. HighTower Advisors LLC now owns 55,174 shares of the construction company’s stock worth $6,945,000 after buying an additional 2,416 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its position in United Rentals by 203.7% in the first quarter. Tudor Investment Corp ET AL now owns 6,073 shares of the construction company’s stock worth $759,000 after buying an additional 4,073 shares in the last quarter. 95.15% of the stock is owned by hedge funds and other institutional investors.
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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