United Rentals (NYSE:URI) Given New $950.00 Price Target at Citigroup

United Rentals (NYSE:URI) had its target price reduced by analysts at Citigroup from $1,090.00 to $950.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s target price would suggest a potential upside of 21.61% from the company’s previous close.

A number of other brokerages have also weighed in on URI. Robert W. Baird set a $970.00 target price on United Rentals in a research note on Friday. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price for the company in a research note on Sunday, January 4th. Barclays lowered their target price on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a report on Monday, October 20th. JPMorgan Chase & Co. decreased their target price on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a research note on Friday. Two equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Stock Performance

URI stock traded down $0.88 during midday trading on Monday, hitting $781.19. The stock had a trading volume of 623,743 shares, compared to its average volume of 727,819. United Rentals has a 52 week low of $525.91 and a 52 week high of $1,021.47. 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 50-day simple moving average of $849.61 and a 200 day simple moving average of $888.53. The firm has a market capitalization of $49.21 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.24 and a beta of 1.70.

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

United Rentals announced that its board has initiated a share buyback plan on Wednesday, January 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the construction company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Optas LLC grew its holdings in shares of United Rentals by 0.9% during the third quarter. Optas LLC now owns 1,174 shares of the construction company’s stock worth $1,121,000 after purchasing an additional 10 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in United Rentals by 0.5% during the 2nd quarter. CreativeOne Wealth LLC now owns 2,283 shares of the construction company’s stock worth $1,720,000 after acquiring an additional 11 shares during the last quarter. OFI Invest Asset Management increased its position in United Rentals by 6.7% in the 3rd quarter. OFI Invest Asset Management now owns 175 shares of the construction company’s stock valued at $167,000 after acquiring an additional 11 shares during the period. Gleason Group Inc. lifted its holdings in shares of United Rentals by 4.3% during the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock worth $218,000 after purchasing an additional 11 shares during the period. Finally, Bridgewater Advisors Inc. grew its stake in shares of United Rentals by 1.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after purchasing an additional 11 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

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.