United Rentals, Inc. (NYSE:URI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $137.00 price objective on the construction company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.83% from the stock’s current price.

According to Zacks, “United Rentals came up with better-than-expected results in the second quarter of 2017. Earnings and revenues also improved from the year-ago level buoyed by solid volume growth, record time utilization along with improved rate trend. Volume of equipment on rent increased 17.4% year over year. Notably, shares of United Rentals have outperformed the broader market significantly in the last one year. The addition of NES Rentals is expected to significantly drive the stock’s performance in the upcoming quarters as well. NES contributed $105 million to revenues and $46 million to adjusted EBITDA in the second quarter of 2017. However, rental rates continue to decline (down 1.2% year over year in the quarter). Also, adjusted EBITDA margin declined 100 basis points (bps) from the prior-year quarter.”

URI has been the subject of a number of other research reports. Axiom Securities restated a “sell” rating on shares of United Rentals in a research note on Tuesday, June 6th. ValuEngine upgraded United Rentals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded United Rentals from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Bank of America Corporation reiterated a “buy” rating and set a $145.00 price objective (up previously from $130.00) on shares of United Rentals in a research note on Thursday. Finally, Deutsche Bank AG assumed coverage on United Rentals in a research note on Wednesday, April 5th. They set a “hold” rating and a $125.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $124.85.

Shares of United Rentals (NYSE:URI) traded down 0.89% during mid-day trading on Monday, hitting $118.25. The company had a trading volume of 530,374 shares. United Rentals has a 1-year low of $70.58 and a 1-year high of $134.28. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 17.18 and a beta of 2.42. The company has a 50-day moving average price of $110.17 and a 200-day moving average price of $116.51.

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. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.06 EPS. On average, equities analysts anticipate that United Rentals will post $9.81 EPS for the current year.

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Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in United Rentals by 3,269.9% in the first quarter. BlackRock Inc. now owns 5,834,214 shares of the construction company’s stock valued at $729,568,000 after buying an additional 5,661,088 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in United Rentals during the third quarter valued at about $150,256,000. Bank of Montreal Can purchased a new stake in United Rentals during the second quarter valued at about $121,012,000. JPMorgan Chase & Co. boosted its stake in United Rentals by 114.6% in the first quarter. JPMorgan Chase & Co. now owns 2,539,634 shares of the construction company’s stock valued at $317,582,000 after buying an additional 1,356,308 shares during the last quarter. Finally, Norges Bank purchased a new stake in United Rentals during the fourth quarter valued at about $117,257,000. Hedge funds and other institutional investors own 93.98% 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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