Truist Financial Forecasts Strong Price Appreciation for United Rentals (NYSE:URI) Stock

United Rentals (NYSE:URI) had its price target increased by analysts at Truist Financial from $1,209.00 to $1,421.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective indicates a potential upside of 27.58% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Morgan Stanley reiterated an “overweight” rating and set a $1,030.00 target price on shares of United Rentals in a research report on Friday, April 24th. Robert W. Baird upped their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a report on Wednesday, June 10th. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a research note on Monday. Finally, Bank of America boosted their target price on shares of United Rentals from $1,020.00 to $1,195.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,119.69.

United Rentals Stock Down 1.7%

Shares of NYSE URI opened at $1,113.81 on Thursday. United Rentals has a one year low of $701.59 and a one year high of $1,143.69. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The business’s fifty day moving average price is $1,006.44 and its 200-day moving average price is $888.89. The stock has a market capitalization of $69.78 billion, a PE ratio of 28.41, a P/E/G ratio of 1.81 and a beta of 1.79.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the company posted $8.86 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that United Rentals will post 46.76 EPS for the current year.

Insider Activity

In related news, VP Andrew B. Limoges sold 548 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total transaction of $535,867.28. Following the sale, the vice president owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders 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

Several large investors have recently bought and sold shares of URI. Norges Bank purchased a new stake in shares of United Rentals in the fourth quarter worth $978,017,000. Capital International Investors grew its position in United Rentals by 22.8% during the third quarter. Capital International Investors now owns 3,402,524 shares of the construction company’s stock worth $3,247,762,000 after buying an additional 631,484 shares in the last quarter. Corient Private Wealth LLC increased its stake in United Rentals by 1,667.4% in the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after acquiring an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in United Rentals by 3,459.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock worth $159,184,000 after acquiring an additional 191,162 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of United Rentals by 6.7% in the 3rd quarter. Capital World Investors now owns 2,678,614 shares of the construction company’s stock valued at $2,557,158,000 after acquiring an additional 168,685 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

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.