United Rentals (NYSE:URI) Upgraded to Buy at Wall Street Zen

United Rentals (NYSE:URI) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada boosted their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. KeyCorp reaffirmed an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a research note on Friday. Weiss Ratings downgraded shares of United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Bank of America boosted their price objective on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday. Finally, UBS Group reissued a “buy” rating and set a $1,350.00 price objective on shares of United Rentals in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,226.50.

United Rentals Stock Performance

United Rentals stock opened at $1,140.19 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.74 and a current ratio of 0.76. The stock has a fifty day moving average of $1,052.87 and a two-hundred day moving average of $919.10. The company has a market capitalization of $70.97 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.82 and a beta of 1.79. United Rentals has a fifty-two week low of $701.59 and a fifty-two week high of $1,177.67.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.47 earnings per share. On average, analysts anticipate that United Rentals will post 46.85 EPS for the current fiscal year.

Insider Activity

In other United Rentals news, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president owned 5,738 shares in the company, valued at $5,479,732.62. The trade was a 5.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. This represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On United Rentals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors grew its stake in shares of United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after buying an additional 30,263 shares during the period. Franklin Resources Inc. raised its position in shares of United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after buying an additional 28,895 shares during the period. Norges Bank purchased a new stake in United Rentals during the fourth quarter valued at about $978,017,000. Bank of America Corp DE grew its position in United Rentals by 14.7% during the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock valued at $587,496,000 after acquiring an additional 103,371 shares during the period. Finally, Boston Partners increased its stake in United Rentals by 4.0% during the fourth quarter. Boston Partners now owns 774,347 shares of the construction company’s stock worth $631,459,000 after acquiring an additional 29,675 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

More United Rentals News

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.