Citigroup Forecasts Strong Price Appreciation for United Rentals (NYSE:URI) Stock

United Rentals (NYSE:URI) had its target price raised by stock analysts at Citigroup from $1,270.00 to $1,330.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 16.65% from the stock’s previous close.

Several other research firms have also recently weighed in on URI. Sanford C. Bernstein set a $903.00 price objective on United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. UBS Group reissued a “buy” rating and issued a $1,350.00 target price on shares of United Rentals in a research report on Thursday. Barclays raised their target price on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research note on Friday. Truist Financial lifted their price target on United Rentals from $1,209.00 to $1,421.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings cut United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.

United Rentals Trading Up 0.0%

Shares of URI opened at $1,140.19 on Friday. The firm’s 50-day moving average price is $1,052.87 and its 200-day moving average price is $919.10. The firm 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. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.38. United Rentals has a 1-year low of $701.59 and a 1-year high of $1,177.67.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the company earned $10.47 earnings per share. United Rentals’s quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that United Rentals will post 47.32 EPS for the current year.

Insider Activity

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the 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 sale, 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the sale, the senior vice president owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in URI. Gleason Group Inc. raised its holdings in United Rentals by 4.3% in the 4th quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock worth $218,000 after acquiring an additional 11 shares during the last quarter. Bridgewater Advisors Inc. boosted its stake in United Rentals by 1.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock valued at $783,000 after purchasing an additional 11 shares during the last quarter. PFG Investments LLC increased its holdings in shares of United Rentals by 0.9% in the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after purchasing an additional 11 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of United Rentals by 16.9% in the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after purchasing an additional 11 shares in the last quarter. Finally, Great Valley Advisor Group Inc. increased its holdings in shares of United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals News Roundup

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.