United Rentals (NYSE:URI) Price Target Raised to $1,466.00

United Rentals (NYSE:URI) had its price objective hoisted by Truist Financial from $1,421.00 to $1,466.00 in a report issued on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other equities analysts also recently issued reports on URI. KeyCorp reaffirmed an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a research report on Friday. Robert W. Baird set a $1,300.00 target price on United Rentals in a research note on Friday. Bank of America boosted their target price on United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays increased their price target on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Raymond James Financial reissued an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. Fifteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,226.50.

United Rentals Stock Down 0.1%

Shares of United Rentals stock opened at $1,140.19 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The company has a market cap of $70.97 billion, a P/E ratio of 27.38, a PEG ratio of 1.51 and a beta of 1.79. The firm’s 50 day moving average price is $1,052.87 and its 200-day moving average price is $919.31. United Rentals has a 52-week low of $701.59 and a 52-week high of $1,177.67.

United Rentals (NYSE:URI) last posted its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. United Rentals’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.47 earnings per share. On average, sell-side analysts predict that United Rentals will post 47.32 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.

Hedge Funds Weigh In On United Rentals

Hedge funds have recently made changes to their positions in the company. Core Wealth Advisors LLC purchased a new position in United Rentals in the 4th quarter worth $28,000. MV Capital Management Inc. acquired a new stake in United Rentals during the 4th quarter worth about $28,000. Laurel Wealth Advisors LLC purchased a new stake in United Rentals during the 4th quarter valued at about $32,000. Fortitude Family Office LLC grew its stake in United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after purchasing an additional 23 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of United Rentals in the fourth quarter valued at about $34,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting United Rentals

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

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.