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United Rentals (NYSE:URI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

United Rentals logo with Construction background

Key Points

  • Morgan Stanley raised United Rentals' price target from $702.00 to $955.00, indicating a potential upside of 7.50% from its previous close with an "overweight" rating.
  • United Rentals reported a quarterly revenue of $3.94 billion, which surpassed analyst expectations, but its earnings per share missed the consensus estimate.
  • Analysts have varied opinions on the stock, with one sell rating, five hold ratings, nine buy ratings, and one strong buy rating, resulting in an average rating of "Moderate Buy" and a consensus target of $830.71.
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United Rentals (NYSE:URI - Get Free Report) had its price objective raised by equities researchers at Morgan Stanley from $702.00 to $955.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. Morgan Stanley's target price points to a potential upside of 7.50% from the stock's previous close.

Several other analysts have also weighed in on URI. Barclays upped their target price on United Rentals from $565.00 to $620.00 and gave the company an "underweight" rating in a report on Monday, July 21st. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 target price on the stock. in a report on Friday, June 13th. Truist Financial boosted their price target on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a report on Friday. Robert W. Baird lifted their price objective on United Rentals from $535.00 to $571.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Cfra Research upgraded United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $830.71.

Check Out Our Latest Research Report on URI

United Rentals Price Performance

United Rentals stock opened at $888.41 on Monday. United Rentals has a one year low of $525.91 and a one year high of $896.98. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 0.86. The business has a fifty day moving average of $747.81 and a two-hundred day moving average of $694.25. The company has a market cap of $57.16 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.06 and a beta of 1.69.

United Rentals (NYSE:URI - Get Free Report) last posted its 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 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 firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company posted $10.70 EPS. As a group, analysts predict that United Rentals will post 44.8 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Andrew B. Limoges sold 708 shares of United Rentals stock in a transaction on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president owned 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael D. Durand sold 1,100 shares of United Rentals stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $626.28, for a total transaction of $688,908.00. Following the transaction, the executive vice president owned 8,748 shares in the company, valued at $5,478,697.44. The trade was a 11.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

Institutional Investors Weigh In On United Rentals

A number of large investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC acquired a new stake in United Rentals during the 2nd quarter valued at $271,000. NorthRock Partners LLC increased its holdings in United Rentals by 1.7% during the 2nd quarter. NorthRock Partners LLC now owns 1,085 shares of the construction company's stock worth $817,000 after purchasing an additional 18 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in United Rentals by 13.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 8,086 shares of the construction company's stock worth $6,092,000 after purchasing an additional 929 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in United Rentals by 29.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,844 shares of the construction company's stock worth $1,389,000 after purchasing an additional 424 shares during the last quarter. Finally, Griffin Asset Management Inc. acquired a new stake in United Rentals in the second quarter valued at $1,708,000. 96.26% of the stock is owned by institutional investors and hedge funds.

About United Rentals

(Get Free Report)

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.

Further Reading

Analyst Recommendations for United Rentals (NYSE:URI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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