United Rentals (NYSE:URI) Price Target Increased to $940.00 by Analysts at JPMorgan Chase & Co.

United Rentals (NYSE:URI) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $780.00 to $940.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 18.67% from the stock’s current price.

Several other analysts have also issued reports on the company. Evercore ISI boosted their price target on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. The Goldman Sachs Group lifted their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. 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 target price for the company. Citigroup assumed coverage on shares of United Rentals in a research note on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price on the stock. Finally, Truist Financial upped their price target on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $687.46.

United Rentals Stock Performance

Shares of NYSE:URI traded up $8.51 during trading on Monday, hitting $792.11. The company’s stock had a trading volume of 52,811 shares, compared to its average volume of 550,884. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $52.75 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.72 and a beta of 1.68. The company has a 50-day moving average of $722.27 and a 200-day moving average of $687.29. United Rentals has a 12 month low of $387.01 and a 12 month high of $803.48.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm earned $9.88 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that United Rentals will post 44.39 earnings per share for the current year.

Insider Buying and Selling at United Rentals

In other news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Institutional Trading of United Rentals

A number of large investors have recently made changes to their positions in the business. Duncker Streett & Co. Inc. lifted its holdings in shares of United Rentals by 0.3% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock valued at $3,461,000 after acquiring an additional 14 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in United Rentals by 3.8% during the second quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock worth $244,000 after acquiring an additional 14 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in United Rentals by 3.7% during the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock valued at $301,000 after purchasing an additional 15 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of United Rentals by 4.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company’s stock valued at $231,000 after purchasing an additional 16 shares during the last quarter. Finally, Heartland Bank & Trust Co boosted its holdings in shares of United Rentals by 1.1% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,413 shares of the construction company’s stock worth $914,000 after purchasing an additional 16 shares during the period. 96.26% of the stock is currently owned by institutional investors.

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.