Barclays Raises United Rentals (NYSE:URI) Price Target to $565.00

United Rentals (NYSE:URI) had its price objective lifted by Barclays from $400.00 to $565.00 in a report released on Friday, Benzinga reports. They currently have an underweight rating on the construction company’s stock.

Several other analysts have also recently weighed in on the stock. Citigroup boosted their price objective on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America increased their price target on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Truist Financial lifted their price objective on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird boosted their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $742.50.

United Rentals Stock Performance

Shares of URI stock opened at $824.65 on Friday. The firm has a market capitalization of $54.11 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.87 and a beta of 1.68. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The business’s 50-day moving average price is $774.77 and its 200-day moving average price is $709.41. United Rentals has a 12 month low of $395.44 and a 12 month high of $861.74.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business earned $11.73 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that United Rentals will post 44.31 EPS for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.79%. United Rentals’s dividend payout ratio is currently 17.03%.

Insider Activity

In related 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 transaction, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On United Rentals

Several hedge funds and other institutional investors have recently modified their holdings of URI. Crewe Advisors LLC acquired a new stake in United Rentals in the 1st quarter valued at $27,000. RFP Financial Group LLC grew its holdings in shares of United Rentals by 115.8% during the second 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. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals during the third quarter worth about $31,000. HHM Wealth Advisors LLC raised its holdings in shares of United Rentals by 280.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock worth $37,000 after acquiring an additional 42 shares during the last quarter. Finally, HM Payson & Co. bought a new position in United Rentals in the 3rd quarter valued at about $41,000. Institutional investors 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.