United Rentals (NYSE:URI) Price Target Raised to $955.00 at Citigroup

United Rentals (NYSE:URI) had its price objective lifted by equities researchers at Citigroup from $930.00 to $955.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s target price indicates a potential upside of 17.74% from the company’s previous close.

URI has been the topic of a number of other reports. JPMorgan Chase & Co. increased their price objective on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird raised their target price on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Finally, Truist Financial boosted their price target on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $742.50.

United Rentals Stock Down 1.7 %

NYSE:URI traded down $13.86 during mid-day trading on Friday, hitting $811.13. 259,039 shares of the company’s stock traded hands, compared to its average volume of 542,449. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $53.65 billion, a P/E ratio of 21.41, a P/E/G ratio of 1.96 and a beta of 1.68. The company has a fifty day moving average of $770.73 and a 200 day moving average of $707.41. United Rentals has a twelve month low of $387.01 and a twelve month high of $861.74.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business earned $11.73 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that United Rentals will post 44.38 EPS for the current year.

Insider Activity at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Institutional Trading of United Rentals

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after purchasing an additional 1,604,715 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after buying an additional 27,708 shares during the period. Capital International Investors purchased a new stake in shares of United Rentals in the first quarter valued at approximately $332,349,000. AMF Tjanstepension AB grew its holdings in United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after acquiring an additional 199,810 shares during the period. Finally, Hsbc Holdings PLC raised its position in United Rentals by 5.7% in the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock worth $247,001,000 after acquiring an additional 20,481 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.