United Rentals (NYSE:URI) Price Target Raised to $790.00

United Rentals (NYSE:URI - Get Free Report) had its target price lifted by research analysts at The Goldman Sachs Group from $718.00 to $790.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. The Goldman Sachs Group's price target would indicate a potential upside of 20.43% from the company's previous close.

URI has been the subject of a number of other research reports. Barclays raised their price target on shares of United Rentals from $325.00 to $400.00 and gave the stock an "underweight" rating in a report on Friday, January 26th. Robert W. Baird raised their target price on shares of United Rentals from $322.00 to $559.00 and gave the stock an "underperform" rating in a report on Friday, January 26th. Truist Financial began coverage on shares of United Rentals in a report on Thursday, March 14th. They set a "buy" rating and a $793.00 target price for the company. BNP Paribas reissued an "underperform" rating and set a $485.00 target price on shares of United Rentals in a report on Friday, January 5th. Finally, Wells Fargo & Company raised their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an "overweight" rating in a report on Friday, January 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $589.21.

United Rentals Stock Performance

Shares of NYSE URI traded down $10.77 during midday trading on Tuesday, reaching $655.97. The company had a trading volume of 585,189 shares, compared to its average volume of 575,682. The business's 50-day simple moving average is $680.99 and its 200 day simple moving average is $568.14. The stock has a market cap of $44.06 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.34 and a beta of 1.84. United Rentals has a 1 year low of $325.15 and a 1 year high of $732.37. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.85 by $0.41. The business had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.63 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $9.74 earnings per share. On average, analysts forecast that United Rentals will post 43.05 earnings per share for the current fiscal year.

United Rentals announced that its board has approved a stock buyback plan on Wednesday, January 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by company insiders.

Institutional Trading of United Rentals

Institutional investors have recently modified their holdings of the stock. Hoylecohen LLC boosted its position in United Rentals by 1.4% during the fourth quarter. Hoylecohen LLC now owns 1,163 shares of the construction company's stock worth $667,000 after acquiring an additional 16 shares during the last quarter. Ballentine Partners LLC raised its stake in United Rentals by 2.1% during the fourth quarter. Ballentine Partners LLC now owns 889 shares of the construction company's stock worth $510,000 after purchasing an additional 18 shares during the period. DGS Capital Management LLC raised its stake in United Rentals by 1.3% during the fourth quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company's stock worth $827,000 after purchasing an additional 18 shares during the period. Oak Ridge Investments LLC raised its stake in United Rentals by 0.3% during the fourth quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company's stock worth $3,335,000 after purchasing an additional 20 shares during the period. Finally, Caprock Group LLC raised its stake in United Rentals by 2.3% during the fourth quarter. Caprock Group LLC now owns 900 shares of the construction company's stock worth $516,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 96.26% of the company's stock.

United Rentals Company Profile

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.