United Rentals (NYSE:URI) PT Raised to $796.00

United Rentals (NYSE:URI) had its price objective hoisted by Truist Financial from $793.00 to $796.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 19.19% from the stock’s previous close.

Several other research firms have also recently issued reports on URI. Evercore ISI lifted their price objective on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Morgan Stanley initiated coverage on United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective for the company. BNP Paribas reiterated an “underperform” rating and issued a $485.00 price objective on shares of United Rentals in a report on Friday, January 5th. Stifel Nicolaus boosted their target price on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company increased their price target on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $600.79.

United Rentals Price Performance

Shares of NYSE URI opened at $667.82 on Monday. The stock’s 50-day moving average is $682.42 and its two-hundred day moving average is $582.31. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market cap of $44.47 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.10 and a beta of 1.84. United Rentals has a 1-year low of $325.15 and a 1-year high of $732.37.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the firm earned $7.95 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts forecast that United Rentals will post 43.54 EPS for the current fiscal year.

United Rentals announced that its board has approved a stock repurchase plan on Wednesday, January 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William E. Grace sold 775 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

Institutional Trading of United Rentals

Several hedge funds have recently made changes to their positions in the company. Capital Research Global Investors raised 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 worth $3,669,806,000 after purchasing an additional 1,799,997 shares in the last quarter. Norges Bank purchased a new position in shares of United Rentals during the 4th quarter worth approximately $977,443,000. Dimensional Fund Advisors LP lifted its holdings in shares of United Rentals by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock valued at $714,578,000 after buying an additional 56,948 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of United Rentals by 58,829.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after buying an additional 1,041,281 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of United Rentals by 19.1% in the third quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after buying an additional 149,838 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Company Profile

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.