United Rentals (NYSE:URI) Given New $750.00 Price Target at Bank of America

United Rentals (NYSE:URI) had its target price reduced by investment analysts at Bank of America from $850.00 to $750.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s price target points to a potential upside of 18.83% from the company’s current price.

Other equities analysts have also issued research reports about the company. Morgan Stanley lowered their target price on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Citigroup lowered their target price on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI lowered their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research note on Tuesday, January 14th. Finally, Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and an average price target of $815.67.

United Rentals Price Performance

Shares of URI opened at $631.14 on Friday. The company has a market cap of $41.22 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.43 and a beta of 1.76. United Rentals has a 1-year low of $585.27 and a 1-year high of $896.98. The company’s fifty day simple moving average is $697.25 and its 200 day simple moving average is $757.17. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. On average, research analysts forecast that United Rentals will post 44.8 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On United Rentals

Several hedge funds have recently modified their holdings of URI. Quest Partners LLC boosted its holdings in shares of United Rentals by 4.5% during the 3rd quarter. Quest Partners LLC now owns 890 shares of the construction company’s stock valued at $721,000 after acquiring an additional 38 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of United Rentals by 20.1% during the 3rd quarter. Prospera Financial Services Inc now owns 933 shares of the construction company’s stock valued at $756,000 after acquiring an additional 156 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of United Rentals by 24.0% during the 3rd quarter. Avior Wealth Management LLC now owns 217 shares of the construction company’s stock valued at $176,000 after acquiring an additional 42 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of United Rentals by 3.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 565 shares of the construction company’s stock valued at $458,000 after acquiring an additional 19 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of United Rentals by 8.4% during the 3rd quarter. LPL Financial LLC now owns 124,946 shares of the construction company’s stock valued at $101,173,000 after acquiring an additional 9,684 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.