United Rentals Inc. (URI) Trading 3.5% Higher
United Rentals Inc. (NYSE:URI) traded up 3.5% on Thursday . The stock traded as high as $81.37 and last traded at $80.32, with a volume of 969,266 shares trading hands. The stock had previously closed at $77.62.
Several equities research analysts have recently weighed in on the company. Goldman Sachs Group Inc. downgraded United Rentals from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $60.00 to $58.00 in a report on Thursday, May 5th. TheStreet raised United Rentals to a “buy” rating in a report on Monday, May 2nd. Jefferies Group set a $80.00 price objective on United Rentals and gave the company a “buy” rating in a report on Thursday, July 21st. Zacks Investment Research raised United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a report on Wednesday, July 27th. Finally, RBC Capital Markets reissued a “hold” rating and issued a $80.00 price objective (up from $68.00) on shares of United Rentals in a report on Friday, July 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $73.60.
The firm’s 50-day moving average price is $74.51 and its 200 day moving average price is $64.45. The stock has a market capitalization of $6.91 billion and a price-to-earnings ratio of 12.10.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.24. During the same quarter last year, the firm posted $1.95 earnings per share. The firm earned $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. United Rentals’s revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that United Rentals Inc. will post $8.09 EPS for the current year.
In related news, SVP Dale A. Asplund sold 17,972 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $78.52, for a total transaction of $1,411,161.44. Following the completion of the transaction, the senior vice president now owns 15,009 shares in the company, valued at approximately $1,178,506.68. 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 business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $76.35, for a total value of $1,527,000.00. Following the transaction, the insider now owns 387,169 shares of the company’s stock, valued at approximately $29,560,353.15. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in United Rentals stock. Dimensional Fund Advisors LP increased its position in shares of United Rentals Inc. (NYSE:URI) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,061,897 shares of the company’s stock after buying an additional 137,717 shares during the period. Dimensional Fund Advisors LP owned about 1.17% of United Rentals worth $77,031,000 at the end of the most recent 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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