Bank of America Corporation Reiterates “Buy” Rating for United Rentals, Inc. (URI)
United Rentals, Inc. (NYSE:URI)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America Corporation in a research note issued to investors on Thursday. They presently have a $145.00 price target on the construction company’s stock. Bank of America Corporation’s price objective would suggest a potential upside of 22.16% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the company. BidaskClub upgraded United Rentals from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Royal Bank Of Canada upgraded United Rentals from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $128.00 to $138.00 in a report on Monday. Axiom Securities restated a “sell” rating on shares of United Rentals in a report on Thursday, July 13th. Zacks Investment Research cut United Rentals from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Jefferies Group LLC restated a “buy” rating and set a $150.00 target price on shares of United Rentals in a report on Friday, June 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $124.21.
United Rentals (URI) traded up 2.405% during mid-day trading on Thursday, reaching $121.555. The company’s stock had a trading volume of 1,441,762 shares. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 18.019 and a beta of 2.42. The stock’s 50 day moving average is $109.77 and its 200 day moving average is $116.47. United Rentals has a 12 month low of $70.58 and a 12 month high of $134.28. United Rentals also was the recipient of unusually large options trading on Wednesday. Stock investors purchased 12,351 put options on the company. This represents an increase of approximately 459% compared to the average volume of 2,209 put options.
United Rentals (NYSE:URI) last issued its earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.09. United Rentals had a return on equity of 47.90% and a net margin of 10.04%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the business earned $2.06 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that United Rentals will post $9.61 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Boys Arnold & Co. Inc. raised its position in United Rentals by 77.3% in the first quarter. Boys Arnold & Co. Inc. now owns 4,478 shares of the construction company’s stock valued at $560,000 after buying an additional 1,953 shares during the period. Schwab Charles Investment Management Inc. raised its position in United Rentals by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 390,497 shares of the construction company’s stock valued at $48,832,000 after buying an additional 16,701 shares during the period. PNC Financial Services Group Inc. raised its position in United Rentals by 489.7% in the first quarter. PNC Financial Services Group Inc. now owns 149,135 shares of the construction company’s stock valued at $18,650,000 after buying an additional 123,843 shares during the period. Sanctuary Wealth Advisors LLC raised its position in United Rentals by 99.3% in the first quarter. Sanctuary Wealth Advisors LLC now owns 63,821 shares of the construction company’s stock valued at $7,357,000 after buying an additional 31,805 shares during the period. Finally, Segantii Capital Management Ltd bought a new position in United Rentals during the first quarter valued at $1,075,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
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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