Stock analysts at Truist Financial assumed coverage on shares of United Rentals (NYSE:URI – Get Free Report) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $793.00 price target on the construction company’s stock. Truist Financial’s price objective would indicate a potential upside of 17.12% from the company’s previous close.
A number of other analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of United Rentals from $510.00 to $718.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Robert W. Baird boosted their price objective on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. UBS Group cut shares of United Rentals from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $504.00 to $525.00 in a research note on Tuesday, December 5th. Morgan Stanley started coverage on shares of United Rentals in a research note on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective for the company. Finally, Barclays boosted their price objective on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, United Rentals has a consensus rating of “Hold” and a consensus price target of $572.20.
Check Out Our Latest Analysis on United Rentals
United Rentals Price Performance
NYSE URI opened at $677.09 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $45.49 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.49 and a beta of 1.84. The company has a 50 day moving average price of $632.88 and a two-hundred day moving average price of $528.39. United Rentals has a 12-month low of $325.15 and a 12-month high of $732.37.
United Rentals (NYSE:URI – Get Free Report) last posted its earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.85 by $0.41. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $9.74 earnings per share. As a group, equities analysts predict that United Rentals will post 42.83 earnings per share for the current fiscal year.
United Rentals declared that its board has approved a stock buyback plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at United Rentals
In other United Rentals news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.53% of the company’s stock.
Institutional Investors Weigh In On United Rentals
Institutional investors and hedge funds have recently bought and sold shares of the business. Walden Wealth Partners LLC bought a new stake in shares of United Rentals in the 4th quarter worth about $315,000. SageView Advisory Group LLC bought a new stake in shares of United Rentals in the 4th quarter worth about $466,000. Pineridge Advisors LLC bought a new stake in shares of United Rentals in the 4th quarter worth about $52,000. Tortoise Investment Management LLC bought a new stake in shares of United Rentals in the 4th quarter worth about $57,000. Finally, American International Group Inc. grew its holdings in shares of United Rentals by 2.8% in the 4th quarter. American International Group Inc. now owns 18,704 shares of the construction company’s stock worth $10,725,000 after purchasing an additional 508 shares during the last quarter. Institutional investors own 89.03% of the company’s stock.
About United Rentals
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.
Further Reading
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Source: defenseworld.net
