Raymond James Begins Coverage on United Rentals (NYSE:URI)

Analysts at Raymond James assumed coverage on shares of United Rentals (NYSE:URI) in a report issued on Friday, Benzinga reports. The brokerage set an “outperform” rating and a $750.00 price target on the construction company’s stock. Raymond James’ target price points to a potential upside of 20.38% from the stock’s current price.

A number of other analysts have also recently commented on the company. Citigroup began coverage on United Rentals in a research report on Wednesday. They set a “buy” rating and a $745.00 price target for the company. Stifel Nicolaus lifted their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. The Goldman Sachs Group lifted their price target on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Truist Financial lifted their price target on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $638.40.

United Rentals Trading Down 1.1 %

URI opened at $623.04 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $41.49 billion, a P/E ratio of 16.88, a PEG ratio of 2.04 and a beta of 1.75. The stock’s fifty day moving average is $660.01 and its two-hundred day moving average is $643.09. United Rentals has a 52 week low of $387.01 and a 52 week high of $732.37.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.35 by $0.80. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $7.95 EPS. Analysts forecast that United Rentals will post 43.87 earnings per share for the current year.

Insider Transactions at United Rentals

In other news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Trading of United Rentals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in URI. First Financial Corp IN purchased a new stake in United Rentals in the first quarter valued at approximately $25,000. Crewe Advisors LLC purchased a new stake in United Rentals in the first quarter valued at approximately $27,000. AdvisorNet Financial Inc raised its position in United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Rise Advisors LLC purchased a new stake in shares of United Rentals during the first quarter worth $28,000. Finally, Riverview Trust Co purchased a new stake in shares of United Rentals during the first quarter worth $31,000. Hedge funds and other institutional investors 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.