Bank of America Forecasts Strong Price Appreciation for United Rentals (NYSE:URI) Stock

United Rentals (NYSE:URI) had its target price lifted by equities researchers at Bank of America from $1,195.00 to $1,300.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Bank of America‘s target price indicates a potential upside of 14.02% from the company’s current price.

A number of other brokerages have also commented on URI. JPMorgan Chase & Co. increased their price objective on United Rentals from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Morgan Stanley raised their price target on United Rentals from $1,030.00 to $1,165.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Royal Bank Of Canada lifted their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. KeyCorp boosted their price objective on United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Finally, UBS Group restated a “buy” rating and set a $1,350.00 target price on shares of United Rentals in a research report on Thursday. Fourteen research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.

United Rentals Trading Up 0.0%

URI opened at $1,140.19 on Thursday. United Rentals has a 1-year low of $701.59 and a 1-year high of $1,177.67. The stock has a market capitalization of $70.97 billion, a PE ratio of 27.38, a PEG ratio of 1.82 and a beta of 1.79. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average price of $1,052.87 and a two-hundred day moving average price of $919.10.

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

Insiders Place Their Bets

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

Institutional Trading of United Rentals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors grew its holdings in shares of United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after buying an additional 30,263 shares in the last quarter. Franklin Resources Inc. lifted its stake in United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after acquiring an additional 28,895 shares in the last quarter. Norges Bank bought a new stake in United Rentals in the 4th quarter valued at approximately $978,017,000. Bank of America Corp DE boosted its position in United Rentals by 14.7% during the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after acquiring an additional 103,371 shares during the last quarter. Finally, Boston Partners boosted its position in United Rentals by 4.0% during the 4th 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.

United Rentals News Summary

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.