United Rentals, Inc. (URI) Raised to Buy at Zacks Investment Research
United Rentals, Inc. (NYSE:URI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $160.00 target price on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.68% from the stock’s previous close.
According to Zacks, “United Rentals is the largest equipment rental company in the world with strong brand recognition. The company’s main strategy is to improve profitability of its core equipment rental business through revenue growth, margin expansion and operational efficiencies. It is also focused on expanding its geographic borders and product portfolio through acquisitions and joint ventures. Also, United Rentals’ shares gained 69.1% in the past year, outperforming the industry it belongs to. The addition of NES Rentals is expected to significantly boost growth, driving the stock’s performance in the upcoming quarters as well.”
Several other research firms also recently issued reports on URI. Deutsche Bank AG reaffirmed a “hold” rating and set a $157.00 price target (up previously from $130.00) on shares of United Rentals in a research note on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of United Rentals in a research note on Thursday, September 21st. ValuEngine downgraded United Rentals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 20th. Stifel Nicolaus reaffirmed a “hold” rating on shares of United Rentals in a research note on Friday, July 21st. Finally, Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $133.17.
United Rentals (NYSE URI) traded up 1.21% during midday trading on Thursday, hitting $142.46. 211,277 shares of the stock were exchanged. The stock has a market cap of $12.04 billion, a P/E ratio of 20.69 and a beta of 2.46. The firm has a 50-day moving average price of $124.12 and a 200-day moving average price of $116.59. United Rentals has a one year low of $70.58 and a one year high of $142.71.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.09. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 EPS. On average, equities research analysts anticipate that United Rentals will post $9.94 EPS for the current fiscal year.
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In other United Rentals news, CFO William B. Plummer sold 5,301 shares of United Rentals stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $128.26, for a total value of $679,906.26. Following the completion of the sale, the chief financial officer now owns 38,055 shares in the company, valued at approximately $4,880,934.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $120.77, for a total value of $3,623,100.00. Following the completion of the sale, the insider now owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of URI. UBS Asset Management Americas Inc. grew its holdings in United Rentals by 9.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 362,874 shares of the construction company’s stock valued at $45,377,000 after buying an additional 29,864 shares during the period. Arizona State Retirement System grew its holdings in United Rentals by 0.5% in the 1st quarter. Arizona State Retirement System now owns 20,900 shares of the construction company’s stock valued at $2,614,000 after buying an additional 100 shares during the period. Cibc World Markets Corp grew its holdings in United Rentals by 51.8% in the 1st quarter. Cibc World Markets Corp now owns 8,805 shares of the construction company’s stock valued at $1,101,000 after buying an additional 3,006 shares during the period. Neuberger Berman Group LLC grew its holdings in United Rentals by 6.4% in the 1st quarter. Neuberger Berman Group LLC now owns 180,694 shares of the construction company’s stock valued at $22,596,000 after buying an additional 10,925 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in United Rentals by 13.4% in the 1st quarter. Alliancebernstein L.P. now owns 259,754 shares of the construction company’s stock valued at $32,482,000 after buying an additional 30,706 shares during the period. Institutional investors own 93.75% of the company’s stock.
About United Rentals
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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