United Rentals (NYSE:URI) Price Target Raised to $950.00

United Rentals (NYSE:URI - Get Free Report) had its price target increased by analysts at JPMorgan Chase & Co. from $920.00 to $950.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 16.67% from the company's current price.

A number of other research firms also recently issued reports on URI. Robert W. Baird boosted their price target on United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Bank of America cut their price target on United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a research note on Friday, March 21st. The Goldman Sachs Group boosted their price target on United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. UBS Group upgraded United Rentals from a "sell" rating to a "neutral" rating and boosted their price target for the company from $485.00 to $780.00 in a research note on Friday, May 16th. Finally, Redburn Atlantic cut United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price objective on the stock. in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, United Rentals currently has an average rating of "Moderate Buy" and an average target price of $768.54.

United Rentals Stock Performance

NYSE URI traded down $5.47 during trading hours on Thursday, hitting $814.27. The company's stock had a trading volume of 603,953 shares, compared to its average volume of 587,587. United Rentals has a 12 month low of $525.91 and a 12 month high of $896.98. The company's 50 day simple moving average is $722.31 and its two-hundred day simple moving average is $685.83. The company has a market cap of $52.93 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 1.99 and a beta of 1.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.79.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly 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). The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.15 earnings per share. As a group, sell-side analysts expect that United Rentals will post 44.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Andrew B. Limoges sold 708 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the transaction, the vice president directly owned 1,921 shares of the company's stock, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael D. Durand sold 1,100 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the transaction, the executive vice president directly owned 8,748 shares in the company, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Institutional Trading of United Rentals

Several hedge funds have recently modified their holdings of URI. Norges Bank purchased a new stake in United Rentals during the 4th quarter valued at $695,716,000. GAMMA Investing LLC raised its holdings in United Rentals by 77,674.5% during the 1st quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after buying an additional 886,266 shares during the period. Nuveen LLC purchased a new stake in United Rentals during the 1st quarter valued at $402,291,000. JPMorgan Chase & Co. raised its holdings in United Rentals by 98.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after buying an additional 541,579 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new stake in United Rentals during the 4th quarter valued at $330,989,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

About United Rentals

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.