JPMorgan Chase & Co. Has Lowered Expectations for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its price target cut by investment analysts at JPMorgan Chase & Co. from $970.00 to $850.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 10.22% from the company’s previous close.

Several other brokerages have also recently weighed in on URI. Robert W. Baird set a $970.00 price target on shares of United Rentals in a research report on Friday, January 30th. Truist Financial set a $972.00 price objective on shares of United Rentals in a report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Citigroup reduced their price objective on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Finally, Royal Bank Of Canada reduced their price objective on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $914.88.

United Rentals Trading Up 0.5%

Shares of URI stock opened at $771.18 on Friday. The company’s 50-day moving average price is $800.57 and its 200-day moving average price is $850.96. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41. The stock has a market cap of $48.50 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.25 and a beta of 1.68. United Rentals has a twelve month low of $557.05 and a twelve month high of $1,021.47.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing the consensus estimate of $11.86 by ($0.77). The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $11.59 EPS. As a group, equities analysts predict that United Rentals will post 44.8 earnings per share for the current year.

United Rentals announced that its board has authorized a share buyback program on Wednesday, January 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total value of $1,184,753.22. Following the completion of the transaction, the executive vice president directly owned 6,872 shares of the company’s stock, valued at $5,434,996.08. This represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the transaction, the executive vice president directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On United Rentals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. J. Derek Lewis & Associates Inc. acquired a new position in United Rentals in the fourth quarter valued at approximately $205,000. Rockefeller Capital Management L.P. boosted its holdings in United Rentals by 27.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 114,371 shares of the construction company’s stock valued at $92,563,000 after purchasing an additional 24,726 shares in the last quarter. World Investment Advisors boosted its holdings in shares of United Rentals by 4.4% in the fourth quarter. World Investment Advisors now owns 1,869 shares of the construction company’s stock valued at $1,513,000 after acquiring an additional 79 shares during the period. Meadowbrook Advisors Group LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at approximately $487,000. Finally, Corient Private Wealth LLC boosted its holdings in shares of United Rentals by 5.5% in the fourth quarter. Corient Private Wealth LLC now owns 20,527 shares of the construction company’s stock valued at $16,655,000 after acquiring an additional 1,065 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

About United Rentals

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.