United Rentals (NYSE:URI – Get Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Several other research analysts have also recently issued reports on the company. UBS Group raised their price objective on United Rentals from $365.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, November 16th. Robert W. Baird raised their price objective on United Rentals from $318.00 to $365.00 in a research note on Monday, November 14th. Wells Fargo & Company lifted their price target on United Rentals from $435.00 to $440.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus lifted their price target on United Rentals from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 19th. Finally, KeyCorp lifted their price target on United Rentals from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $382.58.
United Rentals Stock Up 0.1 %
United Rentals stock traded up $0.47 during midday trading on Friday, reaching $392.24. The company’s stock had a trading volume of 471,746 shares, compared to its average volume of 614,161. The stock’s 50-day simple moving average is $356.18 and its 200-day simple moving average is $312.87. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.03 and a quick ratio of 0.94. United Rentals has a 52-week low of $230.54 and a 52-week high of $393.98. The stock has a market capitalization of $27.19 billion, a P/E ratio of 14.41, a PEG ratio of 0.56 and a beta of 1.81.
United Rentals (NYSE:URI – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The construction company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.27. United Rentals had a return on equity of 35.38% and a net margin of 17.51%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.09 billion. On average, sell-side analysts expect that United Rentals will post 32.53 EPS for the current year.
United Rentals announced that its Board of Directors has initiated a share buyback program on Wednesday, October 26th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Insider Transactions at United Rentals
In other news, Director Jose B. Alvarez purchased 177 shares of the stock in a transaction dated Friday, November 18th. The shares were purchased at an average cost of $344.65 per share, with a total value of $61,003.05. Following the completion of the purchase, the director now directly owns 10,660 shares of the company’s stock, valued at approximately $3,673,969. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.
Institutional Trading of United Rentals
Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in United Rentals by 9.9% during the second quarter. Rhumbline Advisers now owns 137,504 shares of the construction company’s stock worth $33,401,000 after buying an additional 12,393 shares in the last quarter. Ballentine Partners LLC purchased a new position in United Rentals during the third quarter worth approximately $228,000. Alphastar Capital Management LLC lifted its position in United Rentals by 3.1% during the third quarter. Alphastar Capital Management LLC now owns 1,615 shares of the construction company’s stock worth $436,000 after buying an additional 49 shares in the last quarter. Natixis Investment Managers International lifted its position in United Rentals by 20.0% during the second quarter. Natixis Investment Managers International now owns 1,461 shares of the construction company’s stock worth $354,000 after buying an additional 243 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in United Rentals by 47.3% during the second quarter. AQR Capital Management LLC now owns 144,393 shares of the construction company’s stock worth $34,387,000 after buying an additional 46,351 shares in the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.
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.