United Rentals Inc. (URI) Rating Lowered to Hold at Zacks Investment Research
United Rentals Inc. (NYSE:URI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “United Rentals, Inc. is one of North America’s largest equipment rental companies with over branches in the majority of states, several Canadian provinces and Mexico. The company offers for rent different types of equipment to customers that include construction and industrial companies, manufacturers, utilities, municipalities, homeowners and others. “
A number of other equities analysts have also recently issued reports on the stock. Macquarie initiated coverage on shares of United Rentals in a research report on Thursday, August 25th. They set an “underperform” rating and a $92.00 target price for the company. Bank of America Corp. upgraded shares of 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. Citigroup Inc. restated a “buy” rating and set a $85.00 target price (up previously from $72.00) on shares of United Rentals in a research report on Monday, June 13th. Axiom Securities reissued a “sell” rating on shares of United Rentals in a research report on Tuesday, August 30th. Finally, Deutsche Bank AG assumed coverage on shares of United Rentals in a research report on Tuesday, September 6th. They issued a “hold” rating and a $79.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $74.85.
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United Rentals (NYSE:URI) opened at 75.66 on Thursday. United Rentals has a 12 month low of $41.90 and a 12 month high of $84.63. The firm has a 50 day moving average of $79.73 and a 200-day moving average of $69.47. The firm has a market cap of $6.52 billion, a P/E ratio of 11.41 and a beta of 2.37.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.24. The company earned $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. United Rentals had a net margin of 10.51% and a return on equity of 50.82%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 earnings per share. On average, equities research analysts forecast that United Rentals will post $8.05 earnings per share for the current year.
In other news, Director Brian Mcauley sold 4,000 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $81.09, for a total transaction of $324,360.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William B. Plummer sold 15,811 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $78.74, for a total transaction of $1,244,958.14. Following the transaction, the chief financial officer now directly owns 73,209 shares in the company, valued at $5,764,476.66. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in United Rentals by 1.1% in the first quarter. State Street Corp now owns 3,776,170 shares of the company’s stock valued at $234,846,000 after buying an additional 39,464 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in United Rentals by 3.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,789,781 shares of the company’s stock valued at $173,496,000 after buying an additional 102,790 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in United Rentals by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,131,681 shares of the company’s stock valued at $143,022,000 after buying an additional 427,970 shares in the last quarter. Bank of Montreal Can bought a new stake in United Rentals during the second quarter valued at about $121,012,000. Finally, BlackRock Fund Advisors boosted its stake in United Rentals by 3.4% in the second quarter. BlackRock Fund Advisors now owns 1,457,533 shares of the company’s stock valued at $97,800,000 after buying an additional 48,212 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.
United Rentals Company Profile
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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