United Rentals (NYSE:URI) Reaches New 1-Year High After Analyst Upgrade

United Rentals, Inc. (NYSE:URI) reached a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $780.00 to $940.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. United Rentals traded as high as $807.79 and last traded at $806.00, with a volume of 16912 shares. The stock had previously closed at $798.95.

URI has been the topic of a number of other reports. Raymond James initiated coverage on shares of United Rentals in a report on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective on the stock. Truist Financial boosted their price objective on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Citigroup initiated coverage on shares of United Rentals in a report on Wednesday, June 26th. They set a “buy” rating and a $745.00 price objective on the stock. Finally, Evercore ISI boosted their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, United Rentals has a consensus rating of “Hold” and a consensus price target of $687.46.

Insiders Place Their Bets

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Precision Wealth Strategies LLC purchased a new stake in shares of United Rentals during the fourth quarter worth about $227,000. Gryphon Financial Partners LLC purchased a new stake in shares of United Rentals during the fourth quarter worth about $281,000. Commerce Bank increased its stake in shares of United Rentals by 9.3% during the fourth quarter. Commerce Bank now owns 2,927 shares of the construction company’s stock worth $1,678,000 after purchasing an additional 248 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in shares of United Rentals during the fourth quarter worth about $466,000. Finally, Orion Portfolio Solutions LLC increased its stake in shares of United Rentals by 13.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,113 shares of the construction company’s stock worth $1,164,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 0.4 %

The firm has a market cap of $53.42 billion, a PE ratio of 21.73, a PEG ratio of 1.72 and a beta of 1.68. The business’s 50 day moving average price is $725.29 and its 200 day moving average price is $689.02. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, topping analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company earned $9.88 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that United Rentals, Inc. will post 44.39 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 14th. This represents a $6.52 annualized dividend and a yield of 0.81%. United Rentals’s dividend payout ratio is presently 17.66%.

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.