United Rentals Inc. (URI) Sets New 12-Month High at $81.50
United Rentals Inc. (NYSE:URI) hit a new 52-week high during trading on Wednesday . The company traded as high as $81.50 and last traded at $79.99, with a volume of 946,771 shares. The stock had previously closed at $80.04.
A number of brokerages have commented on URI. Zacks Investment Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research report on Wednesday. RBC Capital Markets reiterated a “hold” rating and set a $80.00 price target (up from $68.00) on shares of United Rentals in a report on Friday, July 22nd. Royal Bank Of Canada lifted their price target on United Rentals from $68.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, July 22nd. Jefferies Group set a $80.00 price target on United Rentals and gave the company a “buy” rating in a report on Thursday, July 21st. Finally, Morgan Stanley reiterated a “buy” rating on shares of United Rentals in a report on Tuesday, June 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $71.40.
The company has a market cap of $6.87 billion and a price-to-earnings ratio of 12.029. The company’s 50 day moving average is $69.92 and its 200 day moving average is $61.82.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.82 by $0.24. During the same period last year, the company posted $1.95 earnings per share. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts forecast that United Rentals Inc. will post $8.04 earnings per share for the current year.
In related news, SVP Dale A. Asplund sold 6,500 shares of the 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 transaction, the senior vice president now directly owns 39,481 shares of the company’s stock, valued at $2,421,369.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jessica Graziano sold 877 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $76.34, for a total value of $66,950.18. Following the transaction, the vice president now directly owns 7,127 shares of the company’s stock, valued at $544,075.18. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in 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. BlackRock Advisors LLC boosted its stake in United Rentals by 120.4% in the fourth quarter. BlackRock Advisors LLC now owns 1,489,007 shares of the company’s stock worth $108,012,000 after buying an additional 813,301 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 last quarter. New York State Common Retirement Fund boosted its stake in 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 last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in 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 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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