United Rentals (NYSE:URI) Reaches New 52-Week High - Time to Buy?

Key Points

• United Rentals shares reached a new 52-week high of $1,007.97, closing at $1,000.47 with a trading volume of 305,953 shares.
• Analysts' target price for United Rentals has been significantly upgraded, with JPMorgan raising its estimate from $1,000.00 to $1,150.00 and Citigroup raising its target from $1,000.00 to $1,080.00.
• The company's recent earnings report indicated $10.47 earnings per share, slightly missing estimates, but showing a revenue increase of 4.5% year-over-year, reaching $3.94 billion.

Shares of United Rentals, Inc. (NYSE:URI - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $1,007.97 and last traded at $1,000.47, with a volume of 305953 shares traded. The stock had previously closed at $974.54.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Morgan Stanley upped their price objective on shares of United Rentals from $702.00 to $955.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Barclays increased their price objective on shares of United Rentals from $565.00 to $620.00 and gave the stock an "underweight" rating in a research report on Monday, July 21st. UBS Group boosted their target price on United Rentals from $780.00 to $835.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Citigroup upped their price target on United Rentals from $1,000.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, United Rentals currently has a consensus rating of "Moderate Buy" and a consensus price target of $956.13.

United Rentals Trading Up 2.7%

The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $64.37 billion, a P/E ratio of 25.87, a P/E/G ratio of 2.25 and a beta of 1.73. The firm's 50-day moving average price is $942.33 and its 200 day moving average price is $790.47.

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 for the quarter, missing the consensus estimate of $10.54 by ($0.07). The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. United Rentals's revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $10.70 EPS. United Rentals has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a dividend of $1.79 per share. The ex-dividend date was Wednesday, August 13th. This represents a $7.16 annualized dividend and a yield of 0.7%. United Rentals's dividend payout ratio is 18.52%.

Institutional Trading of United Rentals

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of United Rentals during the second quarter valued at about $776,102,000. JPMorgan Chase & Co. lifted its position in shares of United Rentals by 71.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company's stock worth $1,411,968,000 after buying an additional 780,322 shares in the last quarter. Nuveen LLC bought a new position in shares of United Rentals during the 1st quarter worth approximately $402,291,000. Boston Partners boosted its stake in shares of United Rentals by 74.5% in the 2nd quarter. Boston Partners now owns 715,250 shares of the construction company's stock worth $542,526,000 after buying an additional 305,378 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of United Rentals in the second quarter valued at approximately $152,069,000. Institutional investors own 96.26% of the company's stock.

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.

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