Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of United Rentals from a “hold” rating to a “sell” rating and set a $383.00 target price for the company. in a research note on Wednesday, March 30th. Wells Fargo & Company assumed coverage on shares of United Rentals in a research note on Friday, March 11th. They set an “overweight” rating and a $425.00 target price for the company. Barclays increased their target price on shares of United Rentals from $290.00 to $300.00 and gave the stock an “underweight” rating in a research note on Thursday, January 13th. KeyCorp cut their price target on shares of United Rentals from $455.00 to $420.00 and set an “overweight” rating for the company in a report on Friday, January 28th. Finally, The Goldman Sachs Group increased their price target on shares of United Rentals from $415.00 to $425.00 in a report on Thursday, January 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and a consensus target price of $382.33.
Shares of United Rentals stock opened at $288.44 on Thursday. The firm’s fifty day simple moving average is $327.59 and its 200-day simple moving average is $335.12. United Rentals has a 12 month low of $269.37 and a 12 month high of $414.99. The stock has a market capitalization of $20.66 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.57 and a beta of 1.80. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.77 and a quick ratio of 0.71.
United Rentals declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other United Rentals news, Director Shiv Singh purchased 173 shares of the stock in a transaction dated Monday, May 9th. The shares were acquired at an average cost of $288.65 per share, for a total transaction of $49,936.45. Following the completion of the transaction, the director now directly owns 6,993 shares of the company’s stock, valued at $2,018,529.45. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, COO Dale A. Asplund sold 6,575 shares of the stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $318.58, for a total transaction of $2,094,663.50. Following the completion of the sale, the chief operating officer now owns 26,666 shares in the company, valued at $8,495,254.28. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of United Rentals in the first quarter valued at approximately $25,000. Patriot Financial Group Insurance Agency LLC boosted its position in United Rentals by 42.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 90 shares of the construction company’s stock worth $32,000 after acquiring an additional 27 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in United Rentals during the first quarter worth approximately $32,000. HBC Financial Services PLLC acquired a new stake in United Rentals during the first quarter worth approximately $32,000. Finally, Quent Capital LLC acquired a new stake in United Rentals during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 89.70% of the company’s stock.
About United Rentals (Get Rating)
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.
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