United Rentals (URI) Earns Buy Rating from Royal Bank of Canada
Royal Bank of Canada reaffirmed their buy rating on shares of United Rentals (NYSE:URI) in a report issued on Thursday morning. Royal Bank of Canada currently has a $194.00 price objective on the construction company’s stock.
URI has been the subject of a number of other reports. Buckingham Research restated a neutral rating and issued a $175.00 target price (up from $154.00) on shares of United Rentals in a research note on Tuesday, January 9th. Zacks Investment Research downgraded United Rentals from a buy rating to a hold rating in a research note on Saturday, January 6th. Bank of America upgraded United Rentals to a buy rating and lifted their target price for the company from $165.00 to $195.00 in a research note on Tuesday, December 19th. Stifel Nicolaus restated a buy rating and issued a $171.00 target price on shares of United Rentals in a research note on Thursday, December 14th. Finally, Barclays initiated coverage on United Rentals in a research note on Tuesday, December 12th. They issued an underweight rating and a $150.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $159.68.
United Rentals (NYSE:URI) opened at $180.89 on Thursday. The company has a market capitalization of $15,300.00, a PE ratio of 25.66, a P/E/G ratio of 0.76 and a beta of 2.67. United Rentals has a 52 week low of $100.62 and a 52 week high of $182.86. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 3.47.
United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.27. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $2.58 earnings per share. analysts anticipate that United Rentals will post 10.53 EPS for the current fiscal year.
United Rentals announced that its board has authorized a share buyback plan on Wednesday, October 18th that allows the company to buyback $373.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In related news, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $144.72, for a total transaction of $4,341,600.00. Following the sale, the insider now owns 272,292 shares of the company’s stock, valued at $39,406,098.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Singleton B. Mcallister sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $163.67, for a total value of $360,074.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,760 shares of company stock worth $13,873,111. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in URI. Pacer Advisors Inc. raised its holdings in United Rentals by 8.8% during the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock worth $202,000 after purchasing an additional 145 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in United Rentals by 49.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,404 shares of the construction company’s stock worth $271,000 after purchasing an additional 799 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in United Rentals by 0.5% during the second quarter. State of Tennessee Treasury Department now owns 23,115 shares of the construction company’s stock worth $2,605,000 after purchasing an additional 124 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in United Rentals by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,279 shares of the construction company’s stock worth $708,000 after purchasing an additional 25 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in United Rentals by 2,817.7% during the second quarter. Schroder Investment Management Group now owns 19,315 shares of the construction company’s stock worth $2,119,000 after purchasing an additional 18,653 shares in the last quarter. 91.37% of the stock is currently owned by hedge funds and other institutional investors.
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United Rentals Company Profile
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.
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