United Rentals (NYSE:URI) had its price target upped by research analysts at Royal Bank of Canada from $194.00 to $214.00 in a note issued to investors on Friday. The brokerage currently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 15.44% from the company’s previous close.
A number of other brokerages also recently weighed in on URI. Stifel Nicolaus boosted their price objective on shares of United Rentals from $171.00 to $205.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Group reaffirmed a “buy” rating and set a $210.00 price objective on shares of United Rentals in a research report on Tuesday, January 16th. Buckingham Research reaffirmed a “neutral” rating and set a $175.00 price objective (up previously from $154.00) on shares of United Rentals in a research report on Tuesday, January 9th. Zacks Investment Research cut shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Finally, Bank of America upgraded shares of United Rentals to a “buy” rating and upped their target price for the stock from $165.00 to $195.00 in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $175.04.
Shares of United Rentals (NYSE URI) traded up $3.46 during trading hours on Friday, hitting $185.37. 1,946,517 shares of the company were exchanged, compared to its average volume of 1,130,000. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 2.81. United Rentals has a twelve month low of $100.62 and a twelve month high of $189.00. The company has a market cap of $15,680.00, a P/E ratio of 11.81, a PEG ratio of 0.73 and a beta of 2.67.
United Rentals announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 18th that authorizes the company to repurchase $373.00 million in shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
In other news, 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 value of $4,137,521.96. Following the completion of the sale, the insider now directly owns 245,286 shares of the company’s stock, valued at approximately $39,922,749.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donald C. Roof sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $143.95, for a total transaction of $647,775.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,452 shares of company stock valued at $9,057,673. Company insiders own 1.20% of the company’s stock.
Large investors have recently modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new stake in shares of United Rentals in the 3rd quarter worth approximately $119,000. Welch & Forbes LLC acquired a new stake in shares of United Rentals in the 4th quarter worth approximately $226,000. Americafirst Capital Management LLC acquired a new stake in shares of United Rentals in the 2nd quarter worth approximately $151,000. First Manhattan Co. lifted its stake in shares of United Rentals by 42.9% in the 3rd quarter. First Manhattan Co. now owns 1,415 shares of the construction company’s stock worth $196,000 after acquiring an additional 425 shares during the period. Finally, Atria Investments LLC acquired a new stake in shares of United Rentals in the 4th quarter worth approximately $246,000. 91.12% of the stock is owned by institutional investors.
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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.
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