United Rentals (NYSE:URI) Price Target Raised to $930.00 at Citigroup

United Rentals (NYSE:URI) had its target price boosted by stock analysts at Citigroup from $860.00 to $930.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price objective would indicate a potential upside of 14.32% from the company’s previous close.

Several other equities analysts have also recently weighed in on URI. Robert W. Baird lifted their target price on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Raymond James started coverage on shares of United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 price objective on the stock. Evercore ISI boosted their price target on shares of 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 increased their price objective on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Truist Financial boosted their target price on United Rentals from $873.00 to $954.00 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $714.92.

United Rentals Trading Up 1.7 %

URI stock traded up $13.80 during mid-day trading on Wednesday, reaching $813.51. 452,272 shares of the stock traded hands, compared to its average volume of 546,777. United Rentals has a 52-week low of $387.01 and a 52-week high of $826.24. The stock’s fifty day moving average is $738.41 and its 200-day moving average is $697.01. The company has a market cap of $53.81 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.83 and a beta of 1.68. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $9.88 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that United Rentals will post 44.39 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On United Rentals

A number of hedge funds have recently made changes to their positions in URI. Duncker Streett & Co. Inc. raised its stake in United Rentals by 0.3% during the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock worth $3,461,000 after acquiring an additional 14 shares in the last quarter. Ameritas Advisory Services LLC lifted its holdings in United Rentals by 3.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock valued at $244,000 after purchasing an additional 14 shares during the last quarter. IAM Advisory LLC boosted its position in United Rentals by 1.6% in the third quarter. IAM Advisory LLC now owns 900 shares of the construction company’s stock valued at $729,000 after buying an additional 14 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in United Rentals by 3.7% in the first quarter. Concurrent Investment Advisors LLC now owns 418 shares of the construction company’s stock valued at $301,000 after buying an additional 15 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its stake in United Rentals by 4.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 357 shares of the construction company’s stock worth $231,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

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.