Bank of America Forecasts Strong Price Appreciation for United Rentals (NYSE:URI) Stock

United Rentals (NYSE:URI) had its price objective lifted by stock analysts at Bank of America from $1,020.00 to $1,195.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would indicate a potential upside of 10.39% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. UBS Group boosted their price target on shares of United Rentals from $1,025.00 to $1,145.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Weiss Ratings raised United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Raymond James Financial reiterated an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a report on Wednesday, June 10th. Royal Bank Of Canada boosted their target price on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Barclays increased their price target on United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,070.50.

United Rentals Stock Up 1.8%

Shares of NYSE URI opened at $1,082.52 on Thursday. The stock has a market cap of $67.82 billion, a P/E ratio of 27.62, a P/E/G ratio of 1.68 and a beta of 1.81. The firm has a 50 day moving average price of $972.21 and a 200 day moving average price of $877.50. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. United Rentals has a 52-week low of $701.59 and a 52-week high of $1,106.88.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $8.86 EPS. Analysts expect that United Rentals will post 47.26 EPS for the current year.

Insider Activity at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. This represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew B. Limoges sold 548 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the transaction, the vice president owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 26,088 shares of company stock valued at $25,628,877. Insiders own 0.47% of the company’s stock.

Institutional Trading of United Rentals

A number of institutional investors have recently modified their holdings of URI. Capital International Investors grew its holdings in shares of United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares in the last quarter. Capital World Investors lifted its stake in United Rentals by 1.1% in the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after acquiring an additional 30,263 shares in the last quarter. Franklin Resources Inc. lifted its stake in United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after acquiring an additional 28,895 shares in the last quarter. Norges Bank acquired a new position in United Rentals during the 4th quarter worth approximately $978,017,000. Finally, Alliancebernstein L.P. boosted its position in United Rentals by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,088,209 shares of the construction company’s stock worth $1,038,870,000 after acquiring an additional 57,977 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

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.