United Rentals, Inc. (NYSE:URI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $145.00 target price on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.44% from the company’s previous close.

According to Zacks, “United Rentals’ shares have gained over 70% in the last one year, outperforming the industry it belongs to. The company’s main strategy is to improve profitability of its core equipment rental business through revenue growth, margin expansion and operational efficiencies. In particular, the company’s strategy calls for the implementation of Project XL, which is a set of eight specific work streams focused on driving profitable growth through revenue opportunities and generating incremental profitability through cost savings. United Rentals is focused on expanding its geographic borders and product portfolio through acquisitions and joint ventures. The addition of NES Rentals is expected to significantly drive the stock’s performance in the upcoming quarters as well. However, a decline in rental rates raises concern. Rental rates fell 2.2% in 2016 and 1.2% in the first half of 2017 on a year-over-year basis, respectively.”

Several other equities analysts have also recently weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $150.00 price target on shares of United Rentals in a research report on Tuesday, September 5th. ValuEngine upgraded United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. UBS AG reiterated a “neutral” rating and issued a $125.00 price target on shares of United Rentals in a research report on Sunday, August 20th. Stifel Nicolaus upgraded United Rentals from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research report on Friday, August 18th. Finally, BidaskClub cut United Rentals from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $127.85.

Shares of United Rentals (NYSE URI) opened at 130.12 on Wednesday. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 18.90 and a beta of 2.42. United Rentals has a 12-month low of $70.58 and a 12-month high of $134.28. The stock’s 50 day moving average price is $117.55 and its 200 day moving average price is $115.67.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.09. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 earnings per share. Equities research analysts expect that United Rentals will post $9.91 earnings per share for the current year.

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In other United Rentals news, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the completion of the sale, the insider now owns 302,292 shares of the company’s stock, valued at $36,507,804.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO William B. Plummer sold 5,301 shares of United Rentals stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $128.26, for a total value of $679,906.26. Following the sale, the chief financial officer now directly owns 38,055 shares of the company’s stock, valued at approximately $4,880,934.30. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in United Rentals by 4.1% during the second quarter. Vanguard Group Inc. now owns 9,531,812 shares of the construction company’s stock worth $1,074,330,000 after purchasing an additional 378,365 shares during the last quarter. BlackRock Inc. lifted its stake in United Rentals by 3.3% during the second quarter. BlackRock Inc. now owns 6,025,017 shares of the construction company’s stock worth $679,080,000 after purchasing an additional 190,803 shares during the last quarter. State Street Corp lifted its stake in United Rentals by 15.0% during the second quarter. State Street Corp now owns 5,843,162 shares of the construction company’s stock worth $658,586,000 after purchasing an additional 763,469 shares during the last quarter. FMR LLC lifted its stake in United Rentals by 5.5% during the first quarter. FMR LLC now owns 3,662,214 shares of the construction company’s stock worth $457,960,000 after purchasing an additional 191,311 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in United Rentals by 114.6% during the first quarter. JPMorgan Chase & Co. now owns 2,539,634 shares of the construction company’s stock worth $317,582,000 after purchasing an additional 1,356,308 shares during the last quarter. 93.66% of the stock is owned by hedge funds and other institutional investors.

About United Rentals

United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.

Analyst Recommendations for United Rentals (NYSE:URI)

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