United Rentals (NYSE:URI) Stock Price Expected to Rise, Truist Financial Analyst Says

United Rentals (NYSE:URI) had its price target hoisted by Truist Financial from $1,421.00 to $1,466.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 28.58% from the stock’s previous close.

URI has been the subject of several other reports. KeyCorp reiterated an “overweight” rating and issued a $1,350.00 target price on shares of United Rentals in a research note on Friday. Citigroup upped their price objective on shares of United Rentals from $1,270.00 to $1,330.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James Financial reissued an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. Weiss Ratings cut United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Finally, Evercore restated an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a research note on Monday, May 11th. Fifteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,226.50.

United Rentals Stock Up 0.0%

United Rentals stock opened at $1,140.19 on Friday. The business’s 50-day moving average price is $1,052.87 and its 200 day moving average price is $919.10. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The firm has a market cap of $70.97 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79. United Rentals has a 52 week low of $701.59 and a 52 week high of $1,177.67.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $10.47 earnings per share. As a group, sell-side analysts anticipate that United Rentals will post 47.32 earnings per share for the current year.

Insider Transactions at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares of the company’s stock, valued at $5,479,732.62. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On United Rentals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Core Wealth Advisors LLC purchased a new position in United Rentals during the fourth quarter worth approximately $28,000. MV Capital Management Inc. purchased a new stake in United Rentals in the 4th quarter valued at $28,000. Laurel Wealth Advisors LLC purchased a new stake in United Rentals in the 4th quarter valued at $32,000. Fortitude Family Office LLC increased its stake in shares of United Rentals by 121.1% in the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock worth $34,000 after acquiring an additional 23 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of United Rentals in the 4th quarter worth $34,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

More United Rentals News

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

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.