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

United Rentals (NYSE:URI) had its target price hoisted by Truist Financial from $955.00 to $965.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other brokerages also recently commented on URI. Bank of America lifted their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Citigroup boosted their price objective on United Rentals from $955.00 to $985.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird boosted their price target on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Argus upped their target price on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $770.71.

United Rentals Stock Up 1.6 %

Shares of NYSE URI opened at $722.64 on Thursday. United Rentals has a 12-month low of $533.70 and a 12-month high of $896.98. The business’s fifty day simple moving average is $827.15 and its 200-day simple moving average is $750.46. The stock has a market cap of $47.42 billion, a P/E ratio of 18.87, a PEG ratio of 1.83 and a beta of 1.66. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $11.73 earnings per share. As a group, equities analysts predict that United Rentals will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is 17.03%.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. This trade represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On United Rentals

Large investors have recently added to or reduced their stakes in the stock. Mayflower Financial Advisors LLC boosted its position in United Rentals by 4.0% during the third quarter. Mayflower Financial Advisors LLC now owns 339 shares of the construction company’s stock valued at $274,000 after acquiring an additional 13 shares during the last quarter. Allen Capital Group LLC lifted its holdings in shares of United Rentals by 4.2% in the third quarter. Allen Capital Group LLC now owns 324 shares of the construction company’s stock worth $262,000 after buying an additional 13 shares in the last quarter. First County Bank CT grew its holdings in shares of United Rentals by 3.2% during the third quarter. First County Bank CT now owns 422 shares of the construction company’s stock worth $342,000 after purchasing an additional 13 shares in the last quarter. Duncker Streett & Co. Inc. boosted its stake in United Rentals by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 5,352 shares of the construction company’s stock worth $3,461,000 after buying an additional 14 shares in the last quarter. Finally, Ameritas Advisory Services LLC increased its stake in United Rentals by 3.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 378 shares of the construction company’s stock worth $244,000 after purchasing an additional 14 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

About United Rentals

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.