Citigroup Increases United Rentals (NYSE:URI) Price Target to $985.00

United Rentals (NYSE:URI) had its price objective boosted by analysts at Citigroup from $955.00 to $985.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price objective suggests a potential upside of 18.03% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on URI. JPMorgan Chase & Co. increased their target price on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays raised their price target on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Argus lifted their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Bank of America lifted 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. Finally, Truist Financial raised their price objective on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $770.00.

United Rentals Stock Down 2.8 %

United Rentals stock traded down $24.38 during mid-day trading on Monday, hitting $834.54. 225,575 shares of the company’s stock were exchanged, compared to its average volume of 542,394. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The stock has a market cap of $54.76 billion, a P/E ratio of 21.78, a P/E/G ratio of 2.01 and a beta of 1.66. United Rentals has a 1-year low of $491.60 and a 1-year high of $896.98. The stock has a 50 day moving average of $834.23 and a two-hundred day moving average of $744.24.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) 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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $11.73 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that United Rentals will post 43.46 EPS for the current fiscal year.

Insider Activity

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.49% of the company’s stock.

Institutional Trading of United Rentals

A number of large investors have recently modified their holdings of URI. FMR LLC lifted 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 buying an additional 85,325 shares during the last quarter. International Assets Investment Management LLC lifted its position in 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 worth $1,300,962,000 after buying an additional 1,604,715 shares during the last quarter. Geode Capital Management LLC lifted its position in United Rentals by 0.6% in the 3rd 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. lifted its position in United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after buying an additional 57,002 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in United Rentals by 10.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after buying an additional 66,957 shares during the last quarter. Institutional investors 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.