United Rentals Inc. (URI) Reaches New 12-Month High at $82.29
United Rentals Inc. (NYSE:URI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $82.29 and last traded at $81.88, with a volume of 711,371 shares. The stock had previously closed at $80.13.
Several equities research analysts have commented on the stock. Bank of America Corp. upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research report on Thursday, August 18th. Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Wednesday, July 27th. RBC Capital Markets reiterated a “hold” rating and issued a $80.00 price target (up from $68.00) on shares of United Rentals in a research report on Friday, July 22nd. Royal Bank Of Canada boosted their price target on shares of United Rentals from $68.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday, July 22nd. Finally, Jefferies Group set a $80.00 price target on shares of United Rentals and gave the stock a “buy” rating in a research report on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. United Rentals currently has an average rating of “Buy” and an average price target of $73.60.
The stock has a market capitalization of $7.10 billion and a price-to-earnings ratio of 12.42. The company’s 50 day moving average is $74.90 and its 200 day moving average is $64.93.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.24. The company earned $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $1.95 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts expect that United Rentals Inc. will post $8.05 earnings per share for the current year.
In other United Rentals news, COO Matthew John Flannery sold 15,046 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $78.12, for a total value of $1,175,393.52. Following the transaction, the chief operating officer now owns 23,663 shares of the company’s stock, valued at $1,848,553.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Keith Wimbush sold 3,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $79.04, for a total value of $237,120.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in United Rentals stock. US Bancorp DE increased its stake in shares of United Rentals Inc. (NYSE:URI) by 156.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,703 shares of the company’s stock after buying an additional 10,804 shares during the period. US Bancorp DE’s holdings in United Rentals were worth $1,284,000 at the end of the most recent reporting 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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