United Rentals (NYSE:URI) received a $150.00 price objective from equities researchers at Royal Bank of Canada in a report released on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the construction company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 16.59% from the stock’s previous close.
A number of other equities research analysts have also issued reports on URI. Morgan Stanley cut their price target on shares of United Rentals from $168.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Goldman Sachs Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and raised their price target for the stock from $128.00 to $165.00 in a report on Friday, September 20th. ValuEngine lowered shares of United Rentals from a “sell” rating to a “strong sell” rating in a report on Saturday. Deutsche Bank set a $128.00 price target on shares of United Rentals and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, UBS Group lowered shares of United Rentals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $166.00 to $118.00 in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $136.40.
Shares of URI stock traded up $0.76 on Friday, hitting $128.66. 2,102,226 shares of the company’s stock traded hands, compared to its average volume of 1,700,914. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 0.57 and a beta of 2.66. United Rentals has a one year low of $94.28 and a one year high of $142.69. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.71. The company’s fifty day simple moving average is $120.58 and its 200 day simple moving average is $123.51.
In related news, Director Donald C. Roof bought 5,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were purchased at an average price of $118.27 per share, with a total value of $591,350.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Filippo Passerini bought 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were bought at an average cost of $110.37 per share, for a total transaction of $220,740.00. Following the purchase, the director now directly owns 8,783 shares in the company, valued at approximately $969,379.71. The disclosure for this purchase can be found here. Insiders have bought a total of 7,238 shares of company stock worth $842,073 in the last ninety days. Insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in URI. Nuveen Asset Management LLC boosted its stake in shares of United Rentals by 38,658.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 932,150 shares of the construction company’s stock valued at $123,631,000 after purchasing an additional 929,745 shares in the last quarter. Lyrical Asset Management LP boosted its stake in shares of United Rentals by 38.0% during the 2nd quarter. Lyrical Asset Management LP now owns 2,220,998 shares of the construction company’s stock valued at $294,571,000 after purchasing an additional 611,715 shares in the last quarter. Atria Investments LLC boosted its stake in shares of United Rentals by 4,277.2% during the 2nd quarter. Atria Investments LLC now owns 266,617 shares of the construction company’s stock valued at $2,847,000 after purchasing an additional 260,526 shares in the last quarter. Telemark Asset Management LLC bought a new stake in shares of United Rentals during the 2nd quarter valued at about $26,526,000. Finally, Impala Asset Management LLC boosted its stake in shares of United Rentals by 359.6% during the 2nd quarter. Impala Asset Management LLC now owns 233,254 shares of the construction company’s stock valued at $30,936,000 after purchasing an additional 182,503 shares in the last quarter. 87.64% of the stock is currently owned by hedge funds and other institutional investors.
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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