United Rentals Inc. (URI) Sets New 1-Year High at $81.50
United Rentals Inc. (NYSE:URI) hit a new 52-week high on Wednesday . The company traded as high as $81.50 and last traded at $79.99, with a volume of 946,771 shares changing hands. The stock had previously closed at $80.04.
A number of brokerages have recently weighed in on URI. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a report on Wednesday. Jefferies Group set a $80.00 price objective on shares of United Rentals and gave the company a “buy” rating in a report on Thursday, July 21st. Royal Bank Of Canada boosted their price objective on shares of United Rentals from $68.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, July 22nd. RBC Capital Markets reissued a “hold” rating and set a $80.00 price objective (up from $68.00) on shares of United Rentals in a report on Friday, July 22nd. Finally, Citigroup Inc. reissued a “buy” rating and set a $85.00 price objective (up from $72.00) on shares of United Rentals in a report on Monday, June 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. United Rentals currently has a consensus rating of “Hold” and an average price target of $71.40.
The firm has a market capitalization of $6.95 billion and a P/E ratio of 12.17. The stock’s 50 day moving average is $69.60 and its 200 day moving average is $61.55.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.24. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business posted $1.95 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that United Rentals Inc. will post $8.04 earnings per share for the current year.
In other United Rentals news, 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 transaction of $398,645.00. Following the transaction, the senior vice president now directly owns 39,481 shares of the company’s stock, valued at approximately $2,421,369.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew John Flannery sold 15,046 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $78.12, for a total transaction of $1,175,393.52. Following the transaction, the chief operating officer now directly owns 23,663 shares in the company, valued at $1,848,553.56. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have modified their holdings of the company. BlackRock Advisors LLC increased its position in shares of United Rentals by 120.4% in the fourth quarter. BlackRock Advisors LLC now owns 1,489,007 shares of the company’s stock valued at $108,012,000 after buying an additional 813,301 shares during the last quarter. Employees Retirement System of Texas increased its stake in shares of United Rentals by 4.3% in the fourth quarter. Employees Retirement System of Texas now owns 98,000 shares of the company’s stock valued at $7,109,000 after buying an additional 4,000 shares during the last quarter. Ashburton Jersey Ltd purchased a new stake in shares of United Rentals during the fourth quarter valued at $4,992,000. 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 valued at $77,031,000 after buying an additional 137,717 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of United Rentals by 156.6% in the fourth quarter. US Bancorp DE now owns 17,703 shares of the company’s stock valued at $1,284,000 after buying an additional 10,804 shares during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.