United Rentals (NYSE:URI) PT Raised to $790.00

United Rentals (NYSE:URI) had its target price raised by The Goldman Sachs Group from $718.00 to $790.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 24.17% from the company’s previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Morgan Stanley began 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 target for the company. Robert W. Baird boosted their price target 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. Evercore ISI boosted their price target on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus boosted their price target on shares of United Rentals from $494.00 to $591.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $589.21.

United Rentals Stock Performance

NYSE URI opened at $636.21 on Tuesday. United Rentals has a 52-week low of $325.15 and a 52-week high of $732.37. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81. The company has a market capitalization of $42.73 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.31 and a beta of 1.84. The company has a fifty day moving average of $680.66 and a 200-day moving average of $568.62.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm posted $9.74 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts predict that United Rentals will post 43.13 EPS for the current fiscal year.

United Rentals declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On United Rentals

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in United Rentals by 2.3% during the first quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock valued at $2,905,379,000 after purchasing an additional 186,931 shares during the period. Capital Research Global Investors increased its holdings in United Rentals by 39.1% during the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after buying an additional 1,799,997 shares during the last quarter. Morgan Stanley increased its holdings in United Rentals by 10.8% during the fourth quarter. Morgan Stanley now owns 1,756,009 shares of the construction company’s stock valued at $624,121,000 after buying an additional 170,958 shares during the last quarter. Norges Bank purchased a new stake in United Rentals during the fourth quarter valued at approximately $977,443,000. Finally, Geode Capital Management LLC increased its holdings in United Rentals by 2.8% during the first quarter. Geode Capital Management LLC now owns 1,441,997 shares of the construction company’s stock valued at $569,394,000 after buying an additional 39,917 shares during the last quarter. Institutional investors own 96.26% 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.