Bank of America Boosts United Rentals (NYSE:URI) Price Target to $1,195.00

Key Points

• Bank of America raised its price target on United Rentals to $1,195 from $1,020 while keeping a buy rating, implying about 10.39% upside from the prior close.
• Other analysts have also turned more optimistic, with targets ranging up to $1,209; the stock now carries a consensus rating of Moderate Buy and an average target price of $1,070.50.
• United Rentals shares were up 1.8% and opened at $1,082.52. The company recently missed quarterly EPS and revenue estimates, even though revenue still rose 7.2% year over year.

United Rentals (NYSE:URI - Get Free Report) had its price target boosted by analysts at Bank of America from $1,020.00 to $1,195.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Bank of America's price objective points to a potential upside of 10.39% from the stock's previous close.

Several other research firms have also weighed in on URI. Barclays raised their price objective on shares of United Rentals from $600.00 to $715.00 and gave the stock an "underweight" rating in a report on Friday, April 24th. Citigroup boosted their target price on United Rentals from $950.00 to $1,130.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Truist Financial set a $1,209.00 price target on United Rentals in a research report on Friday, April 24th. Sanford C. Bernstein set a $903.00 price target on United Rentals and gave the company an "outperform" rating in a report on Thursday, April 9th. Finally, UBS Group boosted their price objective on United Rentals from $1,025.00 to $1,145.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and a consensus target price of $1,070.50.

United Rentals Stock Up 1.8%

Shares of NYSE:URI opened at $1,082.52 on Thursday. United Rentals has a 52 week low of $701.59 and a 52 week high of $1,106.88. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The company's fifty day moving average is $972.21 and its 200-day moving average is $877.50. The company has a market capitalization of $67.82 billion, a PE ratio of 27.62, a P/E/G ratio of 1.68 and a beta of 1.81.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the business earned $8.86 EPS. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that United Rentals will post 47.26 earnings per share for the current fiscal year.

Insider Transactions at United Rentals

In related news, CEO Matthew John Flannery sold 22,768 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the transaction, the chief executive officer owned 99,980 shares in the company, valued at $98,478,300.40. This trade represents a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew B. Limoges sold 548 shares of United Rentals stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the sale, the vice president owned 1,865 shares of the company's stock, valued at approximately $1,823,708.90. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 over the last quarter. Corporate insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On United Rentals

Large investors have recently bought and sold shares of the business. Aventura Private Wealth LLC acquired a new position in shares of United Rentals in the 4th quarter valued at $27,000. Core Wealth Advisors LLC acquired a new stake in shares of United Rentals during the fourth quarter worth $28,000. MV Capital Management Inc. acquired a new stake in shares of United Rentals during the fourth quarter worth $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in United Rentals in the third quarter valued at about $35,000. Finally, Board of the Pension Protection Fund bought a new stake in United Rentals in the fourth quarter valued at about $32,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

About United Rentals

United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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