Bank of America Increases United Rentals (NYSE:URI) Price Target to $910.00

United Rentals (NYSE:URI) had its target price boosted by Bank of America from $800.00 to $910.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would suggest a potential upside of 12.11% from the stock’s previous close.

URI has been the topic of a number of other reports. Truist Financial lifted their price target on United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They set an “outperform” rating and a $750.00 price target for the company. The Goldman Sachs Group raised their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Robert W. Baird upped their price objective on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Finally, Citigroup raised their target price on United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $742.50.

United Rentals Trading Down 1.6 %

Shares of URI opened at $811.70 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. United Rentals has a fifty-two week low of $387.01 and a fifty-two week high of $861.74. The firm has a 50 day moving average price of $772.68 and a 200-day moving average price of $708.16. The firm has a market cap of $54.05 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.96 and a beta of 1.68.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $11.73 earnings per share. As a group, equities research analysts forecast that United Rentals will post 44.38 earnings per share for the current year.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.

Institutional Trading of United Rentals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in shares of United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. Capital International Investors bought a new stake in United Rentals during the 1st quarter valued at about $332,349,000. AMF Tjanstepension AB raised its holdings in United Rentals by 77.7% in the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after buying an additional 199,810 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after buying an additional 108,360 shares during the last quarter. Finally, AGF Management Ltd. increased its position in shares of United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock valued at $67,048,000 after acquiring an additional 101,547 shares in the last quarter. Hedge funds and other 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.