United Rentals (NYSE:URI - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $780.00 to $940.00 in a research report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 18.67% from the company's current price.
A number of other equities research analysts have also weighed in on URI. Truist Financial lifted their price objective on United Rentals from $785.00 to $873.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Evercore ISI upped their price objective on shares of United Rentals from $774.00 to $795.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Citigroup started coverage on shares of United Rentals in a research note on Wednesday, June 26th. They set a "buy" rating and a $745.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Finally, Raymond James initiated coverage on United Rentals in a research report on Friday, June 28th. They set an "outperform" rating and a $750.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $687.46.
Check Out Our Latest Report on URI
Shares of NYSE URI traded up $8.51 during mid-day trading on Monday, hitting $792.11. The stock had a trading volume of 52,811 shares, compared to its average volume of 550,884. The business has a 50 day moving average price of $722.27 and a two-hundred day moving average price of $687.29. United Rentals has a 1 year low of $387.01 and a 1 year high of $803.48. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market cap of $52.75 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.68.
United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.48 by $0.22. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.77 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.88 earnings per share. On average, equities analysts anticipate that United Rentals will post 44.39 EPS for the current fiscal year.
In other United Rentals news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now directly owns 4,090 shares of the company's stock, valued at $2,822,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Duncker Streett & Co. Inc. raised its position in United Rentals by 0.3% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company's stock worth $3,461,000 after buying an additional 14 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in United Rentals by 3.8% during the second quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company's stock valued at $244,000 after purchasing an additional 14 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in United Rentals by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company's stock worth $301,000 after purchasing an additional 15 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in United Rentals by 4.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company's stock worth $231,000 after purchasing an additional 16 shares during the last quarter. Finally, Heartland Bank & Trust Co grew its position in United Rentals by 1.1% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,413 shares of the construction company's stock worth $914,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 96.26% of the company's stock.
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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