JPMorgan Chase & Co. Forecasts Strong Price Appreciation for United Rentals (NYSE:URI) Stock

United Rentals (NYSE:URI) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $780.00 to $920.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 30.96% from the company’s current price.

A number of other brokerages also recently weighed in on URI. Bank of America cut their price target on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Truist Financial increased their price target on shares of United Rentals from $732.00 to $786.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Morgan Stanley upgraded shares of United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price target on the stock in a research report on Wednesday, April 16th. Cfra Research upgraded shares of United Rentals to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Robert W. Baird increased their price target on shares of United Rentals from $535.00 to $571.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $765.07.

United Rentals Stock Performance

United Rentals stock opened at $702.53 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals has a 1 year low of $525.91 and a 1 year high of $896.98. The company has a market cap of $45.66 billion, a PE ratio of 18.13, a PEG ratio of 1.43 and a beta of 1.70. The company’s 50-day moving average is $634.56 and its two-hundred day moving average is $708.40.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the company posted $9.15 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts anticipate that United Rentals will post 44.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Andrew B. Limoges sold 708 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the transaction, the vice president now directly owns 1,921 shares of the company’s stock, valued at $1,355,957.06. This trade represents a 26.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. This represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,908 shares of company stock worth $1,890,567. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after buying an additional 105,287 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of United Rentals in the fourth quarter valued at $906,000. Arkadios Wealth Advisors grew its stake in shares of United Rentals by 99.0% in the fourth quarter. Arkadios Wealth Advisors now owns 607 shares of the construction company’s stock valued at $428,000 after buying an additional 302 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of United Rentals in the fourth quarter valued at $298,000. Finally, Alpha Cubed Investments LLC grew its stake in shares of United Rentals by 6.2% in the fourth quarter. Alpha Cubed Investments LLC now owns 547 shares of the construction company’s stock valued at $385,000 after buying an additional 32 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

About United Rentals

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.