United Rentals, Inc. (URI) Price Target Raised to $170.00 at Citigroup Inc.
United Rentals, Inc. (NYSE:URI) had its price target increased by investment analysts at Citigroup Inc. from $165.00 to $170.00 in a report issued on Friday. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup Inc.’s price objective suggests a potential upside of 17.73% from the stock’s current price.
URI has been the topic of a number of other research reports. UBS AG restated a “neutral” rating and set a $125.00 target price on shares of United Rentals in a research note on Sunday, August 20th. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and set a $150.00 target price on shares of United Rentals in a research note on Tuesday, September 5th. Deutsche Bank AG lifted their target price on shares of United Rentals from $121.00 to $130.00 and gave the company a “hold” rating in a research note on Friday, July 21st. Finally, Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $140.70.
United Rentals (NYSE:URI) remained flat at $144.40 during midday trading on Friday. The company’s stock had a trading volume of 2,525,019 shares. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 20.98 and a beta of 2.46. United Rentals has a 1-year low of $70.58 and a 1-year high of $147.60. The company has a 50 day moving average of $134.92 and a 200 day moving average of $118.43.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.27. United Rentals had a net margin of 9.64% and a return on equity of 47.50%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $2.58 EPS. United Rentals’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities analysts expect that United Rentals will post $10.24 earnings per share for the current fiscal year.
United Rentals announced that its board has authorized a share repurchase program on Wednesday, October 18th that allows the company to repurchase $373.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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 sale, the chief financial officer now directly owns 38,055 shares in the company, valued at approximately $4,880,934.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $144.72, for a total transaction of $4,341,600.00. Following the completion of the sale, the insider now owns 272,292 shares in the company, valued at $39,406,098.24. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. First Manhattan Co. increased its holdings in shares of United Rentals by 4,204.3% in the 2nd quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock worth $111,000 after buying an additional 967 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of United Rentals in the 2nd quarter worth about $151,000. Huntington National Bank increased its holdings in shares of United Rentals by 14.2% in the 2nd quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock worth $163,000 after buying an additional 179 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of United Rentals by 40.4% in the 2nd quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock worth $187,000 after buying an additional 478 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of United Rentals by 8.8% in the 2nd quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock worth $202,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 93.66% of the company’s stock.
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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