United Rentals (NYSE:URI) Given New $425.00 Price Target at KeyCorp

United Rentals (NYSE:URIGet Rating) had its target price boosted by KeyCorp from $400.00 to $425.00 in a research report released on Tuesday, The Fly reports. KeyCorp currently has an overweight rating on the construction company’s stock.

URI has been the subject of a number of other reports. Sanford C. Bernstein cut shares of United Rentals from a market perform rating to an underperform rating and dropped their price target for the company from $307.00 to $269.00 in a research report on Thursday, August 18th. Morgan Stanley lifted their price target on shares of United Rentals from $300.00 to $320.00 and gave the company an equal weight rating in a research report on Friday, October 28th. UBS Group lifted their price target on shares of United Rentals from $365.00 to $420.00 and gave the company a buy rating in a research report on Wednesday, November 16th. Citigroup lifted their price target on shares of United Rentals to $375.00 in a research report on Tuesday, August 9th. Finally, StockNews.com cut shares of United Rentals from a buy rating to a hold rating in a report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $363.82.

United Rentals Price Performance

Shares of URI opened at $356.24 on Tuesday. United Rentals has a 1-year low of $230.54 and a 1-year high of $378.88. The stock has a market cap of $24.69 billion, a PE ratio of 13.09, a P/E/G ratio of 0.59 and a beta of 1.86. The firm has a 50-day simple moving average of $301.68 and a two-hundred day simple moving average of $290.97. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.03 and a quick ratio of 0.94.

United Rentals declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 26th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the construction company to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at United Rentals

In other news, Director Jose B. Alvarez purchased 177 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The stock was bought at an average price of $344.65 per share, for a total transaction of $61,003.05. Following the completion of the purchase, the director now directly owns 10,660 shares of the company’s stock, valued at $3,673,969. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC lifted its stake in United Rentals by 1.7% in the second quarter. Jackson Creek Investment Advisors LLC now owns 1,897 shares of the construction company’s stock worth $612,000 after acquiring an additional 32 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of United Rentals by 7.7% during the 1st quarter. Quadrant Capital Group LLC now owns 476 shares of the construction company’s stock worth $169,000 after buying an additional 34 shares during the last quarter. Alphastar Capital Management LLC lifted its position in shares of United Rentals by 2.7% during the 2nd quarter. Alphastar Capital Management LLC now owns 1,566 shares of the construction company’s stock worth $380,000 after buying an additional 41 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in shares of United Rentals by 23.9% during the 2nd quarter. Wolff Wiese Magana LLC now owns 223 shares of the construction company’s stock worth $55,000 after buying an additional 43 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of United Rentals by 17.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 287 shares of the construction company’s stock worth $68,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.

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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