Argus Forecasts Strong Price Appreciation for United Rentals (NYSE:URI) Stock

United Rentals (NYSE:URI) had its target price raised by Argus from $840.00 to $880.00 in a research report report published on Wednesday morning,Benzinga reports. Argus currently has a buy rating on the construction company’s stock.

URI has been the topic of a number of other reports. Barclays lifted their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Robert W. Baird lifted their price objective on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Truist Financial lifted their price objective on shares of United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Bank of America raised their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $751.67.

United Rentals Stock Performance

Shares of URI stock opened at $849.32 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The company has a market capitalization of $55.73 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.97 and a beta of 1.68. The company’s 50 day moving average price is $819.40 and its two-hundred day moving average price is $731.97. United Rentals has a 52 week low of $454.71 and a 52 week high of $896.98.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business earned $11.73 earnings per share. United Rentals’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts expect that United Rentals will post 43.46 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $1.63 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.77%. United Rentals’s payout ratio is presently 17.03%.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of URI. FMR LLC raised its stake in United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after acquiring an additional 85,325 shares in the last quarter. International Assets Investment Management LLC raised its stake in United Rentals by 82,462.2% during the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after acquiring an additional 1,604,715 shares in the last quarter. Geode Capital Management LLC raised its stake in United Rentals by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after acquiring an additional 9,256 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in United Rentals by 10.5% during the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after acquiring an additional 66,957 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in United Rentals by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock worth $412,089,000 after acquiring an additional 27,708 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.