United Rentals (NYSE:URI) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded United Rentals from “hold” to “buy.” The stock has a consensus “Moderate Buy” rating, with an average analyst price target of $1,239.19.
• United Rentals reported quarterly revenue of $4.41 billion and earnings of $12.76 per share, exceeding estimates; revenue increased 11.8% year over year.
• United Rentals shares opened at $1,057.90, while institutional investors own 96.26% of the company. An executive vice president recently sold 1,500 shares worth approximately $1.7 million.

United Rentals (NYSE:URI - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

URI has been the topic of a number of other reports. Robert W. Baird set a $1,300.00 price objective on shares of United Rentals in a research note on Friday, July 24th. Zacks Research downgraded shares of United Rentals from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 21st. KeyCorp restated an "overweight" rating and issued a $1,350.00 target price on shares of United Rentals in a research note on Friday, July 24th. Bank of America increased their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Barclays lifted their price target on United Rentals from $715.00 to $950.00 and gave the stock an "underweight" rating in a research note on Friday, July 24th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, United Rentals has a consensus rating of "Moderate Buy" and a consensus target price of $1,239.19.

United Rentals Trading Up 0.7%

NYSE:URI opened at $1,057.90 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. United Rentals has a one year low of $701.59 and a one year high of $1,179.18. The business's 50-day simple moving average is $1,060.09 and its 200 day simple moving average is $998.80. The stock has a market cap of $65.84 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.54 and a beta of 1.83.

United Rentals (NYSE:URI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The construction company reported $12.76 earnings per share for the quarter, beating analysts' consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the firm earned $10.47 EPS. United Rentals's quarterly revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that United Rentals will post 48.87 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP William Grace sold 1,500 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On United Rentals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division lifted its holdings in United Rentals by 117.5% in the third quarter. Central Pacific Bank Trust Division now owns 1,242 shares of the construction company's stock worth $1,243,000 after acquiring an additional 671 shares during the last quarter. Eastern Bank grew its holdings in shares of United Rentals by 20.0% during the third quarter. Eastern Bank now owns 20,593 shares of the construction company's stock valued at $20,609,000 after purchasing an additional 3,427 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of United Rentals by 9.2% during the 2nd quarter. QRG Capital Management Inc. now owns 3,818 shares of the construction company's stock worth $4,325,000 after purchasing an additional 322 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of United Rentals by 62.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 946 shares of the construction company's stock worth $1,072,000 after purchasing an additional 363 shares during the period. Finally, State Street Corp lifted its holdings in shares of United Rentals by 1.1% in the 2nd quarter. State Street Corp now owns 2,993,837 shares of the construction company's stock worth $3,391,688,000 after purchasing an additional 32,238 shares during 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 headquartered in Stamford, Connecticut. The company provides construction, industrial, commercial, and homeowner customers with access to equipment without requiring them to purchase and maintain their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trench safety products, power-generation and climate-control equipment, pumps, tools, and general construction equipment. United Rentals also provides specialty services such as mobile storage, fluid solutions, power and HVAC support, and project-based equipment management.

Founded in 1997, United Rentals has grown through organic expansion and acquisitions into a large equipment-rental network serving customers primarily in the United States and Canada, with additional operations in Europe and Australia.

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