Truist Financial Raises United Rentals (NYSE:URI) Price Target to $965.00

United Rentals (NYSE:URI) had its target price boosted by equities research analysts at Truist Financial from $955.00 to $965.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price suggests a potential upside of 33.54% from the company’s current price.

A number of other research firms also recently commented on URI. Robert W. Baird boosted their target price on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Citigroup raised their price objective on United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Bank of America boosted their target price on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Argus lifted their price target on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $770.71.

United Rentals Stock Performance

Shares of NYSE URI opened at $722.64 on Thursday. United Rentals has a 1 year low of $533.70 and a 1 year high of $896.98. 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 stock has a fifty day moving average price of $829.08 and a two-hundred day moving average price of $749.87. The firm has a market cap of $47.42 billion, a P/E ratio of 18.87, a PEG ratio of 1.83 and a beta of 1.66.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business earned $11.73 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts forecast that United Rentals will post 43.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. The trade was a 30.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.49% of the company’s stock.

Institutional Trading of United Rentals

A number of institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after purchasing an additional 85,325 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after buying an additional 1,604,715 shares in the last quarter. Geode Capital Management LLC increased its holdings in United Rentals by 0.6% in 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 buying an additional 9,256 shares during the last quarter. Franklin Resources Inc. raised its position in United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after acquiring an additional 57,002 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in United Rentals by 10.5% in the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock valued at $570,167,000 after acquiring an additional 66,957 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

About United Rentals

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.