Evercore ISI Cuts United Rentals (NYSE:URI) Price Target to $921.00

United Rentals (NYSE:URI) had its price target lowered by investment analysts at Evercore ISI from $974.00 to $921.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Evercore ISI’s target price would indicate a potential upside of 26.76% from the stock’s previous close.

Other research analysts have also issued reports about the stock. UBS Group upgraded shares of United Rentals from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $485.00 to $780.00 in a research note on Friday. Citigroup dropped their price objective on shares of United Rentals from $720.00 to $650.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Bank of America dropped their price objective on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a report on Friday, March 21st. Morgan Stanley raised shares of United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price objective for the company in a report on Wednesday, April 16th. Finally, Sanford C. Bernstein raised shares of United Rentals from an “underperform” rating to a “market perform” rating and lowered their price target for the stock from $705.00 to $666.00 in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and a consensus target price of $744.31.

United Rentals Trading Up 1.9%

Shares of URI stock opened at $726.59 on Monday. The company has a 50 day moving average of $626.76 and a 200-day moving average of $709.52. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals has a 12-month low of $525.91 and a 12-month high of $896.98. The firm has a market cap of $47.23 billion, a P/E ratio of 18.75, a PEG ratio of 1.43 and a beta of 1.70.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the business earned $9.15 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts anticipate that United Rentals will post 44.8 earnings per share for the current year.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew B. Limoges sold 708 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the completion of the transaction, the vice president now owns 1,921 shares in the company, valued at $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,908 shares of company stock worth $1,890,567 over the last quarter. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several institutional investors have recently bought and sold shares of URI. Rialto Wealth Management LLC purchased a new position in shares of United Rentals during the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of United Rentals in the 1st quarter valued at about $26,000. TruNorth Capital Management LLC raised its holdings in shares of United Rentals by 1,266.7% in the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company’s stock valued at $26,000 after purchasing an additional 38 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of United Rentals in the 4th quarter valued at about $27,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock valued at $29,000 after purchasing an additional 29 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

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.