JPMorgan Chase & Co. Reiterates Neutral Rating for United Rentals (NYSE:URI)

Key Points

• JPMorgan reaffirmed its Neutral rating on United Rentals and cut its price target from $1,235 to $1,170, implying approximately 13.35% upside from the stock’s current price.
• Despite JPMorgan’s cautious view, analyst sentiment remains positive overall, with a consensus Moderate Buy rating and an average price target of $1,230.88.
• United Rentals exceeded quarterly expectations, reporting $12.76 in earnings per share versus the $11.53 consensus estimate and $4.41 billion in revenue, up 11.8% year over year.

United Rentals (NYSE:URI - Get Free Report)'s stock had its "neutral" rating reissued by stock analysts at JPMorgan Chase & Co. in a research report issued on Thursday, Benzinga reports. They presently have a $1,170.00 price target on the construction company's stock, down from their previous price target of $1,235.00. JPMorgan Chase & Co.'s price target would suggest a potential upside of 13.35% from the stock's current price.

A number of other equities analysts have also recently issued reports on URI. BNP Paribas Exane upgraded shares of United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 target price for the company in a research report on Monday, June 29th. KeyCorp reissued an "overweight" rating and set a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. Wells Fargo & Company lifted their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Argus reaffirmed a "buy" rating and issued a $1,250.00 target price on shares of United Rentals in a research note on Tuesday, August 4th. Finally, Bank of America increased their target price on United Rentals from $1,195.00 to $1,300.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,230.88.

United Rentals Stock Performance

Shares of URI stock opened at $1,032.23 on Thursday. The stock has a fifty day moving average price of $1,081.18 and a 200 day moving average price of $965.34. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The stock has a market cap of $64.25 billion, a PE ratio of 24.79, a P/E/G ratio of 1.49 and a beta of 1.79. United Rentals has a 1 year low of $701.59 and a 1 year high of $1,179.18.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.47 earnings per share. Sell-side analysts forecast that United Rentals will post 48.59 earnings per share for the current fiscal year.

Insider Buying and Selling at United Rentals

In other news, EVP William Grace sold 1,500 shares of the business's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares of the company's stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of United Rentals

Hedge funds have recently bought and sold shares of the company. SFE Investment Counsel acquired a new stake in United Rentals in the second quarter valued at $12,765,000. Eventide Asset Management LLC grew its holdings in United Rentals by 19.6% during the 4th quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company's stock worth $77,666,000 after acquiring an additional 15,696 shares in the last quarter. Bridges Investment Management Inc. increased its position in shares of United Rentals by 2.0% in the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company's stock worth $56,315,000 after purchasing an additional 1,354 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of United Rentals by 995.1% in the 4th quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company's stock worth $11,016,000 after purchasing an additional 12,369 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of United Rentals by 9.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 10,782 shares of the construction company's stock valued at $7,855,000 after purchasing an additional 950 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.

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