United Rentals, Inc. (NYSE:URI) Stock Has Average Price Target of $1,243.62

Key Points

• Analysts remain broadly bullish: United Rentals has a “Moderate Buy” consensus from 18 analysts, with 15 buy ratings, and an average 12-month price target of $1,243.62.
• Recent results exceeded expectations: The company reported quarterly EPS of $12.76 versus the $11.53 consensus and revenue of $4.41 billion, up 11.8% year over year.
• Institutional ownership is substantial: Hedge funds and other institutions own 96.26% of United Rentals, while insider ownership is 0.47%; an executive recently sold 1,500 shares for approximately $1.7 million.

United Rentals, Inc. (NYSE:URI - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eighteen analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $1,243.62.

Several research firms have recently issued reports on URI. Wells Fargo & Company upped 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. BNP Paribas Exane raised United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 target price on the stock in a research report on Monday, June 29th. Barclays raised their target price on United Rentals from $715.00 to $950.00 and gave the stock an "underweight" rating in a research report on Friday, July 24th. Truist Financial boosted their target price on United Rentals from $1,421.00 to $1,466.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd.

Insider Activity

In related news, EVP William Grace sold 1,500 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 6,062 shares of the company's stock, valued at $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 is accessible through the SEC website. Insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On United Rentals

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in United Rentals during the 2nd quarter worth approximately $5,816,326,000. State Street Corp lifted its stake in United Rentals by 1.1% in the second quarter. State Street Corp now owns 2,993,837 shares of the construction company's stock valued at $3,391,688,000 after buying an additional 32,238 shares during the last quarter. Capital World Investors boosted its holdings in shares of United Rentals by 1.1% in the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company's stock valued at $2,192,357,000 after acquiring an additional 30,263 shares during the period. Franklin Resources Inc. boosted its holdings in shares of United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company's stock valued at $1,087,711,000 after acquiring an additional 28,895 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of United Rentals during the second quarter worth approximately $944,196,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

United Rentals Price Performance

Shares of URI opened at $1,035.04 on Friday. United Rentals has a twelve month low of $701.59 and a twelve month high of $1,179.18. The firm's fifty day simple moving average is $1,063.82 and its 200-day simple moving average is $986.58. The firm has a market capitalization of $64.42 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.47 and a beta of 1.83. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The construction company reported $12.76 EPS for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.47 earnings per share. Equities analysts forecast that United Rentals will post 48.7 EPS for the current fiscal year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals's payout ratio is currently 18.92%.

United Rentals Company Profile

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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