United Rentals Inc. (URI) Shares Down 3.9%
United Rentals Inc. (NYSE:URI) fell 3.9% on Tuesday . The company traded as low as $75.88 and last traded at $76.10, with a volume of 1,170,690 shares trading hands. The stock had previously closed at $79.18.
A number of brokerages have weighed in on URI. Axiom Securities restated a “sell” rating on shares of United Rentals in a research note on Tuesday, August 30th. Deutsche Bank AG began coverage on United Rentals in a research note on Tuesday, September 6th. They set a “hold” rating and a $79.00 price objective for the company. Macquarie began coverage on United Rentals in a research note on Thursday, August 25th. They set an “underperform” rating and a $92.00 price objective for the company. Zacks Investment Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research note on Wednesday, July 27th. Finally, Bank of America Corp. upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a research report on Thursday, August 18th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $74.85.
The company has a 50 day moving average price of $79.77 and a 200-day moving average price of $69.29. The stock has a market cap of $6.51 billion, a P/E ratio of 11.39 and a beta of 2.37.
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United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.24. United Rentals had a return on equity of 50.82% and a net margin of 10.51%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $1.95 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts forecast that United Rentals Inc. will post $8.05 earnings per share for the current fiscal year.
In related news, VP Jessica Graziano sold 877 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $76.34, for a total transaction of $66,950.18. Following the transaction, the vice president now directly owns 7,127 shares in the company, valued at $544,075.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Matthew John Flannery sold 15,046 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $78.12, for a total value of $1,175,393.52. Following the transaction, the chief operating officer now owns 23,663 shares in the company, valued at $1,848,553.56. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its stake in United Rentals by 15.4% in the second quarter. Acrospire Investment Management LLC now owns 1,500 shares of the company’s stock valued at $101,000 after buying an additional 200 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in United Rentals by 91.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,532 shares of the company’s stock valued at $103,000 after buying an additional 730 shares in the last quarter. WFG Advisors LP raised its stake in United Rentals by 4.6% in the second quarter. WFG Advisors LP now owns 1,735 shares of the company’s stock valued at $116,000 after buying an additional 77 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new stake in United Rentals during the second quarter valued at $123,000. Finally, Invictus RG raised its stake in United Rentals by 2,900.0% in the first quarter. Invictus RG now owns 2,040 shares of the company’s stock valued at $127,000 after buying an additional 1,972 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.
About United Rentals
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, general tools and light equipment, such as pressure washers, water pumps and power tools.
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