United Rentals (NYSE:URI) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of United Rentals (NYSE:URI) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other analysts also recently weighed in on URI. Raymond James Financial restated an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a research note on Wednesday, June 10th. Weiss Ratings downgraded United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Bank of America boosted their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp reaffirmed an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a research note on Friday. Finally, Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an “outperform” rating in a report on Thursday, April 9th. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.

United Rentals Price Performance

Shares of NYSE:URI opened at $1,140.19 on Friday. 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 company has a market cap of $70.97 billion, a P/E ratio of 27.38, a PEG 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. The company has a 50-day moving average price of $1,052.87 and a 200 day moving average price of $919.10.

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

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s payout ratio is currently 18.92%.

Insiders Place Their Bets

In other news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction on Monday, April 27th. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On United Rentals

A number of large investors have recently added to or reduced their stakes in URI. Woodline Partners LP lifted its holdings in shares of United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after purchasing an additional 1,577 shares in the last quarter. Sei Investments Co. increased its stake in shares of United Rentals by 24.7% during the 2nd quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock worth $20,444,000 after purchasing an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of United Rentals by 43.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after purchasing an additional 17,030 shares during the last quarter. HUB Investment Partners LLC raised its position in shares of United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after purchasing an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in United Rentals by 338.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock valued at $1,246,000 after buying an additional 1,277 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about 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

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.