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 traded. The stock had previously closed at $798.95.

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

Insiders Place Their Bets

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

Institutional Trading of United Rentals

Institutional investors and hedge funds have recently modified their holdings of the business. Essex Financial Services Inc. raised its position in United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after acquiring an additional 136 shares during the period. Nomura Holdings Inc. bought a new stake in United Rentals during the fourth quarter valued at about $780,000. Forsta AP Fonden lifted its position in shares of United Rentals by 2.8% in the first quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after acquiring an additional 400 shares in the last quarter. Tidal Investments LLC grew its position in shares of United Rentals by 241.2% during the first quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock worth $3,504,000 after purchasing an additional 3,435 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in United Rentals during the 4th quarter valued at approximately $779,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 1.0 %

The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $53.72 billion, a PE ratio of 21.64, a PEG ratio of 1.72 and a beta of 1.68. The stock has a fifty day moving average of $724.10 and a 200 day moving average of $688.13.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the business posted $9.88 earnings per share. United Rentals’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that United Rentals, Inc. will post 44.39 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s dividend payout ratio (DPR) 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.