United Rentals, Inc. (URI) Stock Rating Upgraded by Zacks Investment Research
United Rentals, Inc. (NYSE:URI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $145.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.91% from the stock’s previous close.
According to Zacks, “United Rentals’ shares have gained over 70% in the last one year, outperforming the industry it belongs to. The company’s main strategy is to improve profitability of its core equipment rental business through revenue growth, margin expansion and operational efficiencies. In particular, the company’s strategy calls for the implementation of Project XL, which is a set of eight specific work streams focused on driving profitable growth through revenue opportunities and generating incremental profitability through cost savings. United Rentals is focused on expanding its geographic borders and product portfolio through acquisitions and joint ventures. The addition of NES Rentals is expected to significantly drive the stock’s performance in the upcoming quarters as well. However, a decline in rental rates raises concern. Rental rates fell 2.2% in 2016 and 1.2% in the first half of 2017 on a year-over-year basis, respectively.”
Several other equities analysts also recently commented on URI. Royal Bank Of Canada reiterated a “hold” rating on shares of United Rentals in a report on Wednesday, May 24th. ValuEngine raised shares of United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Axiom Securities reissued a “sell” rating on shares of United Rentals in a research report on Tuesday, June 6th. Jefferies Group LLC reissued a “buy” rating and issued a $150.00 target price on shares of United Rentals in a research report on Friday, June 9th. Finally, BidaskClub raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $127.85.
Shares of United Rentals (URI) traded up 0.65% during mid-day trading on Wednesday, reaching $130.74. 1,041,624 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $117.55 and its 200-day moving average is $115.67. United Rentals has a 52-week low of $70.58 and a 52-week high of $134.28. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 18.99 and a beta of 2.42.
United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.09. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the company earned $2.06 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts expect that United Rentals will post $9.91 EPS for the current year.
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In other United Rentals news, CFO William B. Plummer sold 5,301 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $128.26, for a total transaction of $679,906.26. Following the completion of the transaction, the chief financial officer now owns 38,055 shares of the company’s stock, valued at $4,880,934.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $120.77, for a total value of $3,623,100.00. Following the transaction, the insider now directly owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. First Manhattan Co. raised its stake in United Rentals by 4,204.3% during the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock worth $111,000 after acquiring an additional 967 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in United Rentals during the second quarter worth about $151,000. Huntington National Bank raised its stake in United Rentals by 14.2% during the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock worth $163,000 after acquiring an additional 179 shares in the last quarter. IFP Advisors Inc raised its stake in United Rentals by 40.4% during the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock worth $187,000 after acquiring an additional 478 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in United Rentals by 8.8% during the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock worth $202,000 after acquiring an additional 145 shares in the last quarter. 93.66% of the stock is owned by hedge funds and other 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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