United Rentals (NYSE:URI) Given New $920.00 Price Target at JPMorgan Chase & Co.

United Rentals (NYSE:URI - Get Free Report) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $780.00 to $920.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 29.28% from the company's current price.

Several other analysts have also recently commented on the stock. Robert W. Baird increased their price target on shares of United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Truist Financial increased their price objective on shares of United Rentals from $732.00 to $786.00 and gave the company a "buy" rating in a report on Friday, April 25th. Evercore ISI lowered their target price on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a report on Monday. Morgan Stanley raised United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target on the stock in a research note on Wednesday, April 16th. Finally, Citigroup decreased their price objective on United Rentals from $720.00 to $650.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, United Rentals currently has an average rating of "Moderate Buy" and a consensus price target of $757.38.

United Rentals Stock Performance

United Rentals stock traded down $3.85 during trading hours on Wednesday, hitting $711.62. The stock had a trading volume of 127,904 shares, compared to its average volume of 599,387. United Rentals has a fifty-two week low of $525.91 and a fifty-two week high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $631.47 and a two-hundred day moving average of $709.07. The company has a market cap of $46.25 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the business earned $9.15 EPS. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that United Rentals will post 44.8 EPS for the current fiscal year.

Insider Activity

In other United Rentals news, EVP Michael D. Durand sold 1,100 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total value of $688,908.00. Following the transaction, the executive vice president now directly owns 8,748 shares in the company, valued at $5,478,697.44. The trade was a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the transaction, the vice president now owns 1,921 shares in the company, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,908 shares of company stock valued at $1,890,567 over the last three months. Insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On United Rentals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rialto Wealth Management LLC bought a new stake in shares of United Rentals during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in United Rentals during the first quarter valued at approximately $26,000. TruNorth Capital Management LLC increased its stake in shares of United Rentals by 1,266.7% in the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of United Rentals during the 4th quarter worth $27,000. Finally, Meeder Asset Management Inc. boosted its stake in United Rentals by 241.7% in the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after buying an additional 29 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

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.

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