JPMorgan Chase & Co. Issues Positive Forecast for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its target price upped by investment analysts at JPMorgan Chase & Co. from $940.00 to $1,000.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 32.34% from the stock’s previous close.

A number of other research firms have also weighed in on URI. Argus lifted their price objective on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research report on Tuesday, January 14th. Truist Financial reaffirmed a “buy” rating and set a $956.00 price objective (down previously from $963.00) on shares of United Rentals in a research note on Friday. Finally, Citigroup decreased their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and a consensus target price of $818.55.

United Rentals Stock Performance

NYSE URI traded down $18.44 during trading hours on Friday, reaching $755.64. The stock had a trading volume of 314,028 shares, compared to its average volume of 695,542. United Rentals has a 52-week low of $596.48 and a 52-week high of $896.98. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The stock has a market cap of $49.59 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The stock has a fifty day moving average of $766.58 and a 200 day moving average of $768.75.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.51% and a net margin of 16.78%. Sell-side analysts predict that United Rentals will post 46.06 earnings per share for the current year.

Institutional Trading of United Rentals

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of 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 buying an additional 1,604,715 shares during the last quarter. Geode Capital Management LLC raised its position in shares of United Rentals by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock valued at $1,264,326,000 after buying an additional 9,256 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of United Rentals by 6.1% in the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after buying an additional 57,002 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after acquiring an additional 105,287 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

About United Rentals

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.