Truist Financial Issues Positive Forecast for United Rentals (NYSE:URI) Stock Price

Key Points

• Truist Financial has raised its price target for United Rentals (NYSE:URI) from $786.00 to $952.00, maintaining a "buy" rating, indicating an expected upside of 8.24% from the current stock price.
• Recent research reports show varied opinions on the stock, with nine analysts having a buy rating and one issuing a strong buy, while one analyst rated the stock as a sell.
• United Rentals' stock price reached $879.57, having traded up 0.5%, with an average twenty-day price of $744.58.
• In the last quarter, United Rentals reported $3.94 billion in revenue, a 4.5% increase year-over-year, though its earnings per share of $10.47 fell short of estimates.

United Rentals (NYSE:URI - Get Free Report) had its target price raised by stock analysts at Truist Financial from $786.00 to $952.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Truist Financial's price target suggests a potential upside of 7.16% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird upped their target price on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. UBS Group upped their target price on United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays upped their target price on United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a report on Monday, July 21st. Bank of America upped their target price on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday. Finally, KeyCorp upped their target price on United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $812.64.

United Rentals Price Performance

Shares of United Rentals stock traded up $13.16 during midday trading on Friday, hitting $888.41. 872,750 shares of the company traded hands, compared to its average volume of 634,406. The stock has a market cap of $57.16 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.17 and a beta of 1.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.79 and a current ratio of 0.86. The firm's fifty day moving average price is $747.81 and its 200-day moving average price is $694.09. United Rentals has a 12 month low of $525.91 and a 12 month high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the firm posted $10.70 earnings per share. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that United Rentals will post 44.8 earnings per share for the current year.

Insider Transactions at United Rentals

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

Hedge Funds Weigh In On United Rentals

Institutional investors have recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp acquired a new position in shares of United Rentals during the fourth quarter valued at about $27,000. Meeder Asset Management Inc. increased its stake in United Rentals by 241.7% during the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after purchasing an additional 29 shares in the last quarter. TruNorth Capital Management LLC grew its holdings in shares of United Rentals by 1,266.7% during the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after buying an additional 38 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of United Rentals during the first quarter valued at about $26,000. Finally, Maseco LLP acquired a new position in shares of United Rentals during the second quarter valued at about $32,000. 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.