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

United Rentals (NYSE:URI) had its price objective upped by research analysts at JPMorgan Chase & Co. from $1,100.00 to $1,235.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.32% from the company’s current price.

Several other equities research analysts have also weighed in on URI. Royal Bank Of Canada raised their target price on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Barclays upped their price target on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report on Friday. Evercore reiterated an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a research note on Monday, May 11th. Bank of America increased their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an “overweight” rating in a report on Friday. Fifteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,226.50.

United Rentals Stock Performance

NYSE:URI opened at $1,140.19 on Friday. United Rentals has a 12 month low of $701.59 and a 12 month high of $1,177.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.74. The firm has a market capitalization of $70.97 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79. The business’s fifty day moving average price is $1,052.87 and its 200 day moving average price is $919.10.

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, topping 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 business earned $10.47 EPS. On average, sell-side analysts anticipate that United Rentals will post 47.32 earnings per share for the current fiscal year.

Insider Transactions at United Rentals

In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals 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 transaction, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the business’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 completion of the sale, the senior vice president owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Rentals

A number of institutional investors have recently modified their holdings of URI. Beacon Investment Advisory Services Inc. lifted its position in United Rentals by 1,358.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company’s stock worth $6,658,000 after acquiring an additional 7,663 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of United Rentals by 18.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock valued at $9,514,000 after purchasing an additional 1,846 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of United Rentals by 52.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock worth $2,623,000 after purchasing an additional 1,109 shares during the last quarter. Whittier Trust Co. raised its stake in shares of United Rentals by 2.6% during the fourth quarter. Whittier Trust Co. now owns 61,408 shares of the construction company’s stock worth $54,782,000 after purchasing an additional 1,529 shares during the last quarter. Finally, Addenda Capital Inc. lifted its holdings in shares of United Rentals by 21.3% during the fourth quarter. Addenda Capital Inc. now owns 16,739 shares of the construction company’s stock worth $13,547,000 after purchasing an additional 2,939 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting United Rentals

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

United Rentals Company Profile

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.