KeyCorp Raises United Rentals (NYSE:URI) Price Target to $425.00

United Rentals (NYSE:URIGet Rating) had its price objective raised by KeyCorp from $400.00 to $425.00 in a report published on Tuesday morning, The Fly reports. KeyCorp currently has an overweight rating on the construction company’s stock. KeyCorp also issued estimates for United Rentals’ Q4 2022 earnings at $9.14 EPS, FY2022 earnings at $31.90 EPS, Q1 2023 earnings at $6.33 EPS, Q2 2023 earnings at $7.98 EPS, Q3 2023 earnings at $10.09 EPS, Q4 2023 earnings at $10.09 EPS and FY2023 earnings at $34.49 EPS.

Other equities research analysts also recently issued research reports about the company. Citigroup raised their price target on United Rentals to $375.00 in a report on Tuesday, August 9th. Morgan Stanley raised their price target on United Rentals from $300.00 to $320.00 and gave the stock an equal weight rating in a report on Friday, October 28th. Robert W. Baird raised their price target on United Rentals from $318.00 to $365.00 in a report on Monday, November 14th. StockNews.com downgraded United Rentals from a buy rating to a hold rating in a report on Friday, October 28th. Finally, UBS Group raised their price objective on United Rentals from $365.00 to $420.00 and gave the stock a buy rating in a research note on Wednesday, November 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $363.82.

United Rentals Price Performance

Shares of NYSE URI opened at $358.44 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.94 and a current ratio of 1.03. The company has a market cap of $24.84 billion, a PE ratio of 13.17, a P/E/G ratio of 0.61 and a beta of 1.86. The business has a 50-day simple moving average of $304.44 and a two-hundred day simple moving average of $291.91. United Rentals has a fifty-two week low of $230.54 and a fifty-two week high of $376.94.

United Rentals declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 26th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the construction company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at United Rentals

In related news, Director Jose B. Alvarez purchased 177 shares of United Rentals stock in a transaction that occurred on Friday, November 18th. The stock was bought at an average cost of $344.65 per share, for a total transaction of $61,003.05. Following the completion of the transaction, the director now owns 10,660 shares in the company, valued at $3,673,969. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Toroso Investments LLC raised its position in United Rentals by 5.6% during the third quarter. Toroso Investments LLC now owns 4,018 shares of the construction company’s stock valued at $1,085,000 after acquiring an additional 214 shares in the last quarter. CVA Family Office LLC increased its position in shares of United Rentals by 7.9% in the third quarter. CVA Family Office LLC now owns 823 shares of the construction company’s stock valued at $222,000 after buying an additional 60 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of United Rentals by 10.1% in the third quarter. IHT Wealth Management LLC now owns 2,023 shares of the construction company’s stock valued at $546,000 after buying an additional 185 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of United Rentals by 5.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 5,579 shares of the construction company’s stock valued at $1,508,000 after buying an additional 268 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of United Rentals in the third quarter worth approximately $45,477,000. 90.41% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Company Profile

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United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.

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