United Rentals, Inc. (URI) PT Set at $165.00 by Bank of America Corporation
United Rentals, Inc. (NYSE:URI) has been assigned a $165.00 price objective by analysts at Bank of America Corporation in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the construction company’s stock. Bank of America Corporation’s target price would suggest a potential upside of 14.27% from the company’s previous close.
Several other equities research analysts have also issued reports on URI. BidaskClub upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered shares of United Rentals from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Axiom Securities restated a “sell” rating on shares of United Rentals in a report on Thursday, July 13th. Royal Bank Of Canada upgraded shares of 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, July 17th. Finally, ValuEngine lowered shares of United Rentals from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $140.37.
United Rentals (NYSE:URI) traded up 0.06% during mid-day trading on Thursday, reaching $144.40. 2,955,518 shares of the company’s stock traded hands. United Rentals has a 12-month low of $70.58 and a 12-month high of $147.60. The stock has a market capitalization of $12.21 billion, a PE ratio of 20.98 and a beta of 2.46. The stock has a 50-day moving average price of $133.45 and a 200-day moving average price of $118.10.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.27. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.72 billion. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business earned $2.58 EPS. Equities research analysts expect that United Rentals will post $10.09 EPS for the current year.
United Rentals announced that its board has approved a stock repurchase plan on Wednesday, October 18th that allows the company to repurchase $373.00 million in shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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In other news, CFO William B. Plummer sold 5,301 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the completion of the sale, the chief financial officer now owns 38,055 shares in the company, valued at approximately $4,880,934.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the completion of the sale, the insider now 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. Insiders own 1.20% of the company’s stock.
Several large investors have recently bought and sold shares of URI. Principal Financial Group Inc. raised its holdings in shares of United Rentals by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 143,655 shares of the construction company’s stock valued at $17,965,000 after purchasing an additional 3,931 shares in the last quarter. Cleararc Capital Inc. raised its holdings in shares of United Rentals by 0.6% in the 1st quarter. Cleararc Capital Inc. now owns 2,048 shares of the construction company’s stock valued at $256,000 after purchasing an additional 12 shares in the last quarter. Global X Management Co. LLC raised its holdings in shares of United Rentals by 126.4% in the 1st quarter. Global X Management Co. LLC now owns 1,918 shares of the construction company’s stock valued at $240,000 after purchasing an additional 1,071 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of United Rentals in the 1st quarter valued at about $2,108,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of United Rentals in the 1st quarter valued at about $2,108,000. Institutional investors and hedge funds own 93.66% 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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