Royal Bank of Canada Reaffirms Buy Rating for United Rentals (URI)

Royal Bank of Canada restated their buy rating on shares of United Rentals (NYSE:URI) in a research report report published on Thursday. Royal Bank of Canada currently has a $194.00 price objective on the construction company’s stock.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised United Rentals from a hold rating to a buy rating and set a $145.00 target price on the stock in a research report on Wednesday, September 20th. Bank of America raised United Rentals to a buy rating and lifted their target price for the stock from $165.00 to $195.00 in a research report on Tuesday, December 19th. Stifel Nicolaus reissued a buy rating and set a $171.00 target price on shares of United Rentals in a research report on Thursday, December 14th. Barclays started coverage on United Rentals in a research report on Tuesday, December 12th. They set an underweight rating and a $150.00 target price on the stock. Finally, Citigroup lifted their target price on United Rentals from $142.00 to $165.00 and gave the stock a buy rating in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $159.68.

United Rentals (URI) traded up $0.90 during mid-day trading on Thursday, reaching $180.89. The company had a trading volume of 882,618 shares, compared to its average volume of 954,295. United Rentals has a fifty-two week low of $100.62 and a fifty-two week high of $182.86. The firm has a market capitalization of $15,222.58, a P/E ratio of 25.62, a PEG ratio of 0.76 and a beta of 2.67. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 3.47.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.27. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the business earned $2.58 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. research analysts predict that United Rentals will post 10.53 EPS for the current fiscal year.

United Rentals announced that its board has authorized a share repurchase plan on Wednesday, October 18th that authorizes the company to buyback $373.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other United Rentals news, Director Donald C. Roof sold 4,500 shares of United Rentals stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $143.95, for a total transaction of $647,775.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $144.72, for a total value of $4,341,600.00. Following the sale, the insider now directly owns 272,292 shares in the company, valued at $39,406,098.24. The disclosure for this sale can be found here. Insiders have sold 91,760 shares of company stock worth $13,873,111 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of United Rentals by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 9,531,812 shares of the construction company’s stock worth $1,074,330,000 after acquiring an additional 378,365 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of United Rentals by 3.3% in the 2nd quarter. BlackRock Inc. now owns 6,025,017 shares of the construction company’s stock worth $679,080,000 after acquiring an additional 190,803 shares in the last quarter. State Street Corp boosted its holdings in shares of United Rentals by 15.0% in the 2nd quarter. State Street Corp now owns 5,843,162 shares of the construction company’s stock worth $658,586,000 after acquiring an additional 763,469 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of United Rentals by 8.4% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,073,773 shares of the construction company’s stock worth $148,976,000 after acquiring an additional 83,014 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of United Rentals by 3.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 957,326 shares of the construction company’s stock worth $132,805,000 after acquiring an additional 28,330 shares in the last quarter. 91.37% of the stock is currently owned by institutional investors and hedge funds.

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United Rentals Company Profile

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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