United Rentals (NYSE:URI) Given New $650.00 Price Target at Robert W. Baird

United Rentals (NYSE:URI) had its target price upped by Robert W. Baird from $565.00 to $650.00 in a research report issued on Thursday. The brokerage presently has an “underperform” rating on the construction company’s stock. Robert W. Baird’s target price suggests a potential downside of 17.64% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on URI. JPMorgan Chase & Co. raised their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Raymond James started coverage on United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target for the company. Evercore ISI increased their price objective on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. The Goldman Sachs Group boosted their target price on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Truist Financial increased their price target on shares of United Rentals from $785.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $694.46.

United Rentals Price Performance

United Rentals stock traded down $6.82 during midday trading on Thursday, reaching $789.21. 254,299 shares of the company were exchanged, compared to its average volume of 547,509. The company has a market capitalization of $52.55 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.89 and a beta of 1.68. 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 firm’s 50-day simple moving average is $734.55 and its 200-day simple moving average is $694.51. United Rentals has a 1 year low of $387.01 and a 1 year high of $826.24.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business posted $9.88 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that United Rentals will post 44.39 EPS for the current year.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,822,100. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Financial Corp IN acquired a new position in shares of United Rentals in the first quarter worth about $25,000. Crewe Advisors LLC acquired a new position in shares of United Rentals in the 1st quarter valued at approximately $27,000. RFP Financial Group LLC boosted its stake in shares of United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of United Rentals during the first quarter worth approximately $28,000. Finally, Riverview Trust Co bought a new stake in shares of United Rentals in the first quarter worth $31,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

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.