United Rentals Inc. (URI) Trading Down 1.6%
United Rentals Inc. (NYSE:URI) was down 1.6% during mid-day trading on Monday . The stock traded as low as $68.65 and last traded at $69.00, with a volume of 729,005 shares changing hands. The stock had previously closed at $70.12.
Several equities research analysts have recently issued reports on URI shares. Piper Jaffray Cos. lifted their price objective on shares of United Rentals from $88.00 to $111.00 and gave the company an “outperform” rating in a research report on Monday, March 28th. Goldman Sachs Group Inc. lifted their price objective on shares of United Rentals to $60.00 in a research report on Monday, March 28th. OTR Global cut shares of United Rentals to a “positive” rating in a research report on Thursday, March 31st. Oppenheimer Holdings Inc. cut shares of United Rentals from an “outperform” rating to a “market perform” rating and set a $60.33 price objective on the stock. in a research report on Friday, April 1st. Finally, Jefferies Group lifted their price objective on shares of United Rentals from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 4th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.20.
The company has a market capitalization of $6.01 billion and a PE ratio of 11.41. The stock’s 50 day moving average price is $68.81 and its 200 day moving average price is $61.17.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.23. The firm earned $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted $1.34 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts predict that United Rentals Inc. will post $7.65 EPS for the current fiscal year.
In other United Rentals news, insider Michael Kneeland sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 407,169 shares in the company, valued at approximately $25,680,148.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dale A. Asplund sold 6,500 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $61.33, for a total value of $398,645.00. Following the completion of the transaction, the senior vice president now owns 39,481 shares in the company, valued at approximately $2,421,369.73. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of United Rentals by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 8,526,844 shares of the company’s stock worth $618,538,000 after buying an additional 95,598 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of United Rentals by 14.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,061,897 shares of the company’s stock worth $77,031,000 after buying an additional 137,717 shares during the period. Herndon Capital Management LLC bought a new stake in shares of United Rentals during the fourth quarter worth about $47,588,000. New York State Common Retirement Fund increased its stake in shares of United Rentals by 8.0% in the fourth quarter. New York State Common Retirement Fund now owns 292,300 shares of the company’s stock worth $21,203,000 after buying an additional 21,695 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of United Rentals by 205.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 282,730 shares of the company’s stock worth $20,509,000 after buying an additional 190,018 shares during the period.
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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