United Rentals (NYSE:URI) Price Target Raised to $1,300.00

United Rentals (NYSE:URI) had its price objective hoisted by Bank of America from $1,195.00 to $1,300.00 in a research note released on Thursday,Benzinga reports. Bank of America currently has a buy rating on the construction company’s stock.

URI has been the topic of several other research reports. Truist Financial boosted their price target on shares of United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Morgan Stanley increased their price objective on shares of United Rentals from $1,030.00 to $1,165.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Weiss Ratings cut shares of United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price on the stock in a report on Monday, June 29th. Finally, Citigroup upped their target price on shares of United Rentals from $1,210.00 to $1,270.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Fifteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.

United Rentals Stock Performance

NYSE:URI opened at $1,140.19 on Thursday. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.82 and a beta of 1.79. United Rentals has a 1 year low of $701.59 and a 1 year high of $1,177.67. The stock’s 50 day simple moving average is $1,052.87 and its two-hundred day simple moving average is $919.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.74.

United Rentals (NYSE:URI) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the company earned $10.47 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that United Rentals will post 47.32 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s dividend payout ratio is presently 18.92%.

Insiders Place Their Bets

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Rentals

A number of large investors have recently made changes to their positions in URI. Cardinal Capital Management Inc. raised its position in United Rentals by 11.6% in the 2nd quarter. Cardinal Capital Management Inc. now owns 49,644 shares of the construction company’s stock worth $56,241,000 after purchasing an additional 5,142 shares during the period. Diversified Management Inc. purchased a new position in shares of United Rentals during the second quarter valued at approximately $294,000. Generali Investments Management Co LLC boosted its position in shares of United Rentals by 70.3% during the second quarter. Generali Investments Management Co LLC now owns 264 shares of the construction company’s stock valued at $299,000 after buying an additional 109 shares during the period. E. Ohman J or Asset Management AB grew its stake in shares of United Rentals by 7.2% during the second quarter. E. Ohman J or Asset Management AB now owns 3,038 shares of the construction company’s stock valued at $3,442,000 after buying an additional 205 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of United Rentals in the second quarter worth approximately $2,171,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about United Rentals

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.