United Rentals (NYSE:URI) had its target price raised by investment analysts at Bank of America from $195.00 to $230.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America’s price target points to a potential upside of 26.19% from the company’s previous close.
Several other research firms have also recently issued reports on URI. Jefferies Group increased their price objective on shares of United Rentals from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 16th. UBS Group set a $150.00 price objective on shares of United Rentals and gave the company a “hold” rating in a report on Thursday, October 19th. Buckingham Research started coverage on shares of United Rentals in a research note on Tuesday, November 21st. They set a “neutral” rating and a $154.00 target price for the company. Deutsche Bank reissued a “hold” rating and set a $157.00 target price (up from $130.00) on shares of United Rentals in a research note on Tuesday, October 3rd. Finally, KeyCorp reissued a “hold” rating on shares of United Rentals in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $169.25.
United Rentals (NYSE URI) traded up $0.35 during trading on Friday, hitting $182.26. 455,994 shares of the stock traded hands, compared to its average volume of 1,197,582. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 3.47. The company has a market capitalization of $15,690.35, a PE ratio of 11.58, a PEG ratio of 0.75 and a beta of 2.67. United Rentals has a twelve month low of $100.62 and a twelve month high of $189.00.
United Rentals announced that its board has approved a stock repurchase plan on Wednesday, October 18th that allows the company to buyback $373.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Donald C. Roof sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $143.95, for a total value of $647,775.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Kneeland sold 25,421 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $162.76, for a total transaction of $4,137,521.96. Following the completion of the sale, the insider now owns 245,286 shares of the company’s stock, valued at approximately $39,922,749.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,452 shares of company stock valued at $9,057,673. Company insiders own 1.20% of the company’s stock.
Several large investors have recently modified their holdings of the stock. State Street Corp lifted its position in shares of United Rentals by 15.0% in the 2nd quarter. State Street Corp now owns 5,843,162 shares of the construction company’s stock valued at $658,586,000 after acquiring an additional 763,469 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of United Rentals by 8.4% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,073,773 shares of the construction company’s stock valued at $148,976,000 after acquiring an additional 83,014 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of United Rentals by 3.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 957,326 shares of the construction company’s stock valued at $132,805,000 after acquiring an additional 28,330 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of United Rentals by 16.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 886,171 shares of the construction company’s stock valued at $122,947,000 after acquiring an additional 126,077 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of United Rentals by 6.4% in the 3rd quarter. American Century Companies Inc. now owns 670,479 shares of the construction company’s stock valued at $93,022,000 after acquiring an additional 40,421 shares in the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.
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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.
