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 report issued 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. “
Other research analysts have also issued reports about the company. Jefferies Group set a $80.00 target price on United Rentals and gave the stock a “buy” rating in a research report on Thursday, July 21st. Morgan Stanley reaffirmed a “buy” rating on shares of United Rentals in a research report on Tuesday, June 28th. Citigroup Inc. reaffirmed a “buy” rating and issued a $85.00 target price (up from $72.00) on shares of United Rentals in a research report on Monday, June 13th. RBC Capital Markets reaffirmed a “hold” rating and issued a $80.00 target price (up from $68.00) on shares of United Rentals in a research report on Friday, July 22nd. Finally, Deutsche Bank AG started coverage on United Rentals in a research report on Tuesday, September 6th. They issued a “hold” rating and a $79.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.85.
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Shares of United Rentals (NYSE:URI) opened at 75.66 on Thursday. The company has a market capitalization of $6.52 billion, a P/E ratio of 11.41 and a beta of 2.37. United Rentals has a one year low of $41.90 and a one year high of $84.63. The stock has a 50 day moving average price of $79.73 and a 200-day moving average price of $69.47.
United Rentals (NYSE:URI) last issued its earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, topping 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 company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm posted $1.95 EPS. The business’s revenue was down .6% compared to the same quarter last year. Equities research analysts predict that United Rentals will post $8.05 earnings per share for the current fiscal year.
In other news, CFO William B. Plummer sold 15,811 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $78.74, for a total value of $1,244,958.14. Following the completion of the transaction, the chief financial officer now directly owns 73,209 shares of the company’s stock, valued at approximately $5,764,476.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jessica Graziano sold 877 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $76.34, for a total value of $66,950.18. Following the completion of the transaction, the vice president now directly owns 7,127 shares of the company’s stock, valued at $544,075.18. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Invictus RG boosted its position in shares of United Rentals by 2,900.0% in the first quarter. Invictus RG now owns 2,040 shares of the company’s stock worth $127,000 after buying an additional 1,972 shares during the last quarter. ICM Asset Management Inc. WA bought a new position in shares of United Rentals during the first quarter worth about $2,346,000. Compton Capital Management Inc. RI boosted its position in shares of United Rentals by 4.9% in the first quarter. Compton Capital Management Inc. RI now owns 4,260 shares of the company’s stock worth $265,000 after buying an additional 200 shares during the last quarter. Virginia Retirement System bought a new position in shares of United Rentals during the first quarter worth about $5,535,000. Finally, Nisa Investment Advisors L.L.C. boosted its position in shares of United Rentals by 2.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 22,700 shares of the company’s stock worth $1,412,000 after buying an additional 500 shares during the last quarter. 90.93% of the stock is 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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