United Rentals Inc. (URI) Shares Gap Up to $67.44
United Rentals Inc. (NYSE:URI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $66.99, but opened at $67.44. United Rentals shares last traded at $68.34, with a volume of 503,058 shares traded.
Several research firms have recently issued reports on URI. Morgan Stanley restated a “buy” rating on shares of United Rentals in a research report on Sunday, April 17th. Axiom Securities restated a “sell” rating on shares of United Rentals in a research report on Tuesday, April 12th. Goldman Sachs Group Inc. lowered United Rentals from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $60.00 to $58.00 in a research report on Thursday, May 5th. Oppenheimer Holdings Inc. lowered United Rentals from an “outperform” rating to a “market perform” rating and set a $60.33 target price for the company. in a research report on Friday, April 1st. Finally, Royal Bank Of Canada cut United Rentals from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $65.00 to $68.00 in a report on Friday, April 22nd. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. United Rentals presently has a consensus rating of “Hold” and a consensus target price of $68.20.
The company has a market cap of $6.04 billion and a P/E ratio of 11.46. The stock has a 50 day moving average price of $68.46 and a 200 day moving average price of $61.15.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 20th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.17 by $0.23. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business earned $1.34 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts forecast that United Rentals Inc. will post $7.66 earnings per share for the current year.
In related news, SVP Dale A. Asplund sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $61.33, for a total transaction of $398,645.00. Following the completion of the sale, the senior vice president now owns 39,481 shares of the company’s stock, valued at $2,421,369.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Kneeland sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 22nd. The stock was sold at an average price of $63.07, for a total value of $1,261,400.00. Following the sale, the insider now directly owns 407,169 shares of the company’s stock, valued at approximately $25,680,148.83. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in URI. Russell Frank Co boosted its stake in United Rentals by 13.7% in the fourth quarter. Russell Frank Co now owns 97,773 shares of the company’s stock valued at $7,109,000 after buying an additional 11,779 shares in the last quarter. Nationwide Fund Advisors boosted its stake in United Rentals by 187.1% in the fourth quarter. Nationwide Fund Advisors now owns 108,195 shares of the company’s stock valued at $7,848,000 after buying an additional 70,506 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in United Rentals by 3.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 39,545 shares of the company’s stock valued at $2,870,000 after buying an additional 1,374 shares in the last quarter. Oxford Asset Management acquired a new stake in United Rentals during the fourth quarter valued at approximately $1,159,000. Finally, TD Asset Management Inc. boosted its stake in United Rentals by 6.0% in the fourth quarter. TD Asset Management Inc. now owns 44,290 shares of the company’s stock valued at $3,213,000 after buying an additional 2,500 shares in the last quarter.
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, general tools and light equipment, such as pressure washers, water pumps and power tools.
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