Bank of America Issues Pessimistic Forecast for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its price target reduced by research analysts at Bank of America from $850.00 to $750.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target indicates a potential upside of 19.31% from the stock’s current price.

A number of other research firms have also commented on URI. Evercore ISI decreased their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley decreased their price objective on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Truist Financial reissued a “buy” rating and issued a $956.00 price target (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Citigroup decreased their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $815.67.

United Rentals Stock Down 0.3 %

URI opened at $628.63 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm has a market cap of $41.05 billion, a P/E ratio of 16.22, a PEG ratio of 1.43 and a beta of 1.76. United Rentals has a 52 week low of $585.27 and a 52 week high of $896.98. The business’s fifty day simple moving average is $696.39 and its 200 day simple moving average is $756.77.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. As a group, equities research analysts anticipate that United Rentals will post 44.8 EPS for the current fiscal year.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Large investors have recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in shares of United Rentals during the 4th quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of United Rentals during the 4th quarter valued at about $26,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of United Rentals during the 4th quarter valued at about $27,000. Meeder Asset Management Inc. raised its holdings in shares of United Rentals by 241.7% during the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock valued at $29,000 after buying an additional 29 shares during the period. Finally, Hanson & Doremus Investment Management purchased a new stake in shares of United Rentals during the 4th quarter valued at about $33,000. 96.26% of the stock is currently owned by hedge funds and other 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.