United Rentals (NYSE:URI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

United Rentals (NYSE:URI) had its price objective lifted by equities research analysts at Morgan Stanley from $1,030.00 to $1,165.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 10.61% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. UBS Group boosted their price objective on United Rentals from $1,145.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada boosted their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Truist Financial lifted their price objective on shares of United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Evercore reissued an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Finally, BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target on the stock in a report on Monday, June 29th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,140.00.

United Rentals Stock Down 1.7%

NYSE:URI traded down $18.55 on Friday, hitting $1,053.27. The stock had a trading volume of 186,379 shares, compared to its average volume of 594,725. United Rentals has a 1 year low of $701.59 and a 1 year high of $1,143.69. The firm’s fifty day simple moving average is $1,039.15 and its two-hundred day simple moving average is $909.48. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The stock has a market cap of $65.99 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 1.67 and a beta of 1.79.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.United Rentals’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.86 EPS. Analysts predict that United Rentals will post 46.77 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Andrew B. Limoges sold 548 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the sale, the vice president directly owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew John Flannery sold 22,768 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 26,088 shares of company stock valued at $25,628,877. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Gleason Group Inc. raised its stake in United Rentals by 4.3% in the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock valued at $218,000 after purchasing an additional 11 shares in the last quarter. Bridgewater Advisors Inc. raised its position in shares of United Rentals by 1.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock valued at $783,000 after buying an additional 11 shares in the last quarter. PFG Investments LLC raised its position in shares of United Rentals by 0.9% during the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock valued at $854,000 after buying an additional 11 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of United Rentals by 16.9% during the 2nd quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after acquiring an additional 11 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its position in United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.