United Rentals, Inc. (URI) Receives Buy Rating from Jefferies Group LLC
United Rentals, Inc. (NYSE:URI)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a research note issued on Friday.
URI has been the subject of a number of other reports. Vetr upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating and set a $125.52 price objective for the company in a report on Monday, May 1st. Bank of America Corporation upgraded shares of United Rentals from a “neutral” rating to a “buy” rating in a report on Friday, April 28th. Deutsche Bank AG restated a “hold” rating and issued a $120.00 price objective (down from $131.00) on shares of United Rentals in a report on Sunday, April 23rd. Evercore ISI upgraded shares of United Rentals from an “in-line” rating to an “outperform” rating and set a $134.00 price objective for the company in a report on Monday, May 8th. Finally, Royal Bank Of Canada upgraded shares of United Rentals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $128.00 to $138.00 in a report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $124.68.
Shares of United Rentals (NYSE URI) traded up 0.30% during mid-day trading on Friday, hitting $112.15. The stock had a trading volume of 415,535 shares. The stock’s 50-day moving average price is $115.76 and its 200-day moving average price is $117.11. The firm has a market cap of $9.48 billion, a PE ratio of 16.29 and a beta of 2.43. United Rentals has a 52-week low of $70.58 and a 52-week high of $134.28.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, July 19th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.09. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the business earned $2.06 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts anticipate that United Rentals will post $9.91 earnings per share for the current fiscal year.
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In related news, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $120.77, for a total value of $3,623,100.00. Following the completion of the transaction, the insider now owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of URI. First Manhattan Co. increased its position in shares of United Rentals by 4,204.3% in the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after buying an additional 967 shares in the last quarter. Whittier Trust Co. increased its position in United Rentals by 7.2% in the first quarter. Whittier Trust Co. now owns 894 shares of the construction company’s stock valued at $112,000 after buying an additional 60 shares during the period. State of Alaska Department of Revenue bought a new position in United Rentals during the first quarter valued at approximately $127,000. Americafirst Capital Management LLC bought a new position in United Rentals during the second quarter valued at approximately $151,000. Finally, Huntington National Bank increased its position in United Rentals by 14.2% in the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock valued at $163,000 after buying an additional 179 shares during the period. 96.20% of the stock is owned by institutional investors.
United Rentals Company Profile
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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