United Rentals (NYSE:URI) Hits New 12-Month High - What's Next?

Key Points

• United Rentals, Inc. (NYSE:URI) reached a new 52-week high of $904.73 with a trading volume of 119,425 shares, rising significantly from a previous close of $869.70.
• Analysts have issued several upgrades, with price targets adjusted to between$850.00 and $952.00, and the average target price is currently $834.64, indicating a overall Moderate Buy rating.
• United Rentals announced a quarterly dividend of $1.79, representing an annualized rate of $7.16 and a yield of 0.8%, with a payout ratio of 18.52%.

Shares of United Rentals, Inc. (NYSE:URI - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $903.76 and last traded at $904.73, with a volume of 119425 shares. The stock had previously closed at $869.70.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on URI. The Goldman Sachs Group raised their price objective on shares of United Rentals from $770.00 to $850.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. KeyCorp raised their price objective on shares of United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Citigroup reissued a "buy" rating and set a $810.00 price objective (up previously from $740.00) on shares of United Rentals in a report on Tuesday, June 24th. Argus set a $935.00 target price on shares of United Rentals in a report on Tuesday. Finally, Robert W. Baird lifted their target price on shares of United Rentals from $535.00 to $571.00 and gave the company a "neutral" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $834.64.

United Rentals Stock Down 1.0%

The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $59.37 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.15 and a beta of 1.72. The firm's 50 day simple moving average is $797.45 and its 200-day simple moving average is $707.50.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.70 earnings per share. On average, sell-side analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. United Rentals's payout ratio is currently 18.52%.

Hedge Funds Weigh In On United Rentals

Institutional investors have recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in United Rentals in the 1st quarter valued at $26,000. TruNorth Capital Management LLC boosted its position in shares of United Rentals by 1,266.7% during the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of United Rentals during the 2nd quarter worth $28,000. Flaharty Asset Management LLC purchased a new stake in shares of United Rentals during the 1st quarter worth $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of United Rentals by 69.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock worth $31,000 after purchasing an additional 20 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

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.