United Rentals (NYSE:URI) Price Target Raised to $960.00

Key Points

• KeyCorp has raised its price target for United Rentals (NYSE:URI) from $865.00 to $960.00, indicating a potential upside of 9.85% from the current stock price, while maintaining an "overweight" rating.
• United Rentals reported a miss in quarterly earnings with $10.47 EPS, slightly below the consensus estimate of $10.54, despite revenue exceeding expectations at $3.94 billion.
• Institutional investors hold a significant stake in United Rentals, with 96.26% of the company's stock owned by these entities, reflecting strong institutional confidence in the company.

United Rentals (NYSE:URI - Get Free Report) had its price objective upped by investment analysts at KeyCorp from $865.00 to $960.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. KeyCorp's price objective suggests a potential upside of 9.85% from the stock's current price.

Other equities analysts have also issued reports about the stock. Redburn Atlantic lowered shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price for the company. in a research note on Friday, June 13th. Barclays raised their target price on shares of United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $920.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Robert W. Baird boosted their target price on shares of United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Finally, Evercore ISI dropped their target price on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $800.79.

United Rentals Stock Up 8.8%

URI opened at $873.90 on Friday. United Rentals has a one year low of $525.91 and a one year high of $896.98. The company has a market cap of $56.80 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.96 and a beta of 1.69. The business's fifty day moving average is $744.58 and its two-hundred day moving average is $692.52. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 0.85.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing the consensus estimate of $10.54 by ($0.07). The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a return on equity of 32.35% and a net margin of 16.11%. The business's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $10.70 earnings per share. Analysts anticipate that United Rentals will post 44.8 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in URI. Vanguard Group Inc. boosted its stake in shares of United Rentals by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company's stock worth $4,651,390,000 after acquiring an additional 29,501 shares in the last quarter. Capital World Investors increased its holdings in United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock valued at $1,564,722,000 after purchasing an additional 323,636 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of United Rentals by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company's stock valued at $1,115,142,000 after buying an additional 20,401 shares during the period. Alliancebernstein L.P. boosted its position in shares of United Rentals by 16.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock worth $880,778,000 after purchasing an additional 172,340 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of United Rentals by 98.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock worth $685,488,000 after purchasing an additional 541,579 shares during the last quarter. 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.

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