United Rentals (NYSE:URI) Price Target Raised to $1,330.00

United Rentals (NYSE:URI) had its target price raised by Citigroup from $1,270.00 to $1,330.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the stock. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a research note on Monday, June 29th. Royal Bank Of Canada lifted their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a report on Friday, April 24th. JPMorgan Chase & Co. upped their price objective on United Rentals from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Robert W. Baird raised their price objective on United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Barclays increased their price target on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research report on Friday. Fifteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,226.50.

United Rentals Price Performance

URI opened at $1,140.19 on Friday. United Rentals has a 12-month low of $701.59 and a 12-month high of $1,177.67. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The business’s fifty day simple moving average is $1,052.87 and its 200-day simple moving average is $919.31. The company has a market capitalization of $70.97 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.51 and a beta of 1.79.

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

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is currently 18.92%.

Institutional Trading of United Rentals

A number of institutional investors have recently bought and sold shares of URI. Capital World Investors increased its holdings in shares of United Rentals by 1.1% in the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after purchasing an additional 30,263 shares during the period. Franklin Resources Inc. grew its holdings in United Rentals by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after purchasing an additional 28,895 shares during the period. Norges Bank acquired a new position in United Rentals during the fourth quarter worth $978,017,000. Bank of America Corp DE lifted its stake in United Rentals by 14.7% in the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock valued at $587,496,000 after buying an additional 103,371 shares in the last quarter. Finally, Boston Partners lifted its position in shares of United Rentals by 4.0% in the fourth quarter. Boston Partners now owns 774,347 shares of the construction company’s stock valued at $631,459,000 after acquiring an additional 29,675 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals News Summary

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.