United Rentals (NYSE:URI) Price Target Raised to $1,270.00

Key Points

• Citigroup raised its price target on United Rentals to $1,270 from $1,210 while keeping a buy rating, implying about 19% upside from the prior close.
• Several other analysts have also turned more positive on the stock, with recent target increases from firms including Robert W. Baird, RBC, KeyCorp, and BNP Paribas Exane. The consensus view remains Moderate Buy with an average target price of $1,131.56.
• United Rentals shares were down 1.7% in Tuesday trading at $1,067.27, despite the higher target. The company recently reported quarterly EPS of $9.71, missing estimates, while revenue came in below expectations but still rose 7.2% year over year.

United Rentals (NYSE:URI - Get Free Report) had its price objective hoisted by stock analysts at Citigroup from $1,210.00 to $1,270.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Citigroup's target price indicates a potential upside of 18.99% from the stock's previous close.

URI has been the topic of several other research reports. Robert W. Baird lifted their price target on United Rentals from $970.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Royal Bank Of Canada increased their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. BNP Paribas Exane raised United Rentals from a "neutral" rating to an "outperform" rating and set a $1,320.00 price target for the company in a research report on Monday, June 29th. KeyCorp raised their price target on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Finally, Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the company an "outperform" rating in a report on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,131.56.

United Rentals Stock Down 1.7%

NYSE URI traded down $18.07 during trading hours on Tuesday, reaching $1,067.27. 57,953 shares of the company's stock were exchanged, compared to its average volume of 597,735. 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 has a market capitalization of $66.86 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.75 and a beta of 1.79. The company's 50-day moving average is $1,032.24 and its two-hundred day moving average is $904.49. United Rentals has a one year low of $701.59 and a one year high of $1,143.69.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts' consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the firm posted $8.86 EPS. The business's quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that United Rentals will post 46.7 EPS for the current fiscal year.

Insider Buying and Selling

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew B. Limoges sold 548 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the transaction, the vice president directly owned 1,865 shares in the company, valued at $1,823,708.90. This trade represents a 22.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,088 shares of company stock valued at $25,628,877 in the last ninety days. 0.47% of the stock is owned by company insiders.

Institutional Trading of United Rentals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. lifted its stake in United Rentals by 11.6% in the second quarter. Cardinal Capital Management Inc. now owns 49,644 shares of the construction company's stock valued at $56,241,000 after acquiring an additional 5,142 shares during the last quarter. Diversified Management Inc. acquired a new position in shares of United Rentals during the 2nd quarter worth about $294,000. Generali Investments Management Co LLC raised its holdings in shares of United Rentals by 70.3% in the 2nd quarter. Generali Investments Management Co LLC now owns 264 shares of the construction company's stock valued at $299,000 after purchasing an additional 109 shares during the period. E. Ohman J or Asset Management AB raised its holdings in shares of United Rentals by 7.2% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 3,038 shares of the construction company's stock valued at $3,442,000 after purchasing an additional 205 shares during the period. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in United Rentals in the 2nd quarter valued at about $2,171,000. 96.26% of the stock is owned by institutional investors.

United Rentals Company Profile

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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