Citigroup Lowers United Rentals (NYSE:URI) Price Target to $835.00

United Rentals (NYSE:URI) had its target price reduced by analysts at Citigroup from $985.00 to $835.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s price objective would suggest a potential upside of 12.58% from the stock’s previous close.

Several other research firms have also commented on URI. JPMorgan Chase & Co. raised their price objective on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a report on Tuesday. Bank of America boosted their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Truist Financial increased their price objective on shares of United Rentals from $955.00 to $965.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays boosted their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $805.25.

United Rentals Stock Performance

NYSE URI opened at $741.70 on Tuesday. The business’s 50-day simple moving average is $785.71 and its 200-day simple moving average is $760.02. The firm has a market capitalization of $48.67 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.83 and a beta of 1.69. United Rentals has a 1-year low of $545.16 and a 1-year high of $896.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

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

Insiders Place Their Bets

In other news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Rentals

A number of hedge funds have recently bought and sold shares of the company. Oak Ridge Investments LLC lifted its holdings in United Rentals by 6.7% during the 4th quarter. Oak Ridge Investments LLC now owns 7,423 shares of the construction company’s stock worth $5,229,000 after buying an additional 466 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of United Rentals by 125.3% during the 4th quarter. Aaron Wealth Advisors LLC now owns 987 shares of the construction company’s stock valued at $695,000 after acquiring an additional 549 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its stake in United Rentals by 4.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 678 shares of the construction company’s stock worth $478,000 after purchasing an additional 26 shares during the last quarter. Premier Path Wealth Partners LLC lifted its stake in United Rentals by 2.3% during the fourth quarter. Premier Path Wealth Partners LLC now owns 873 shares of the construction company’s stock worth $615,000 after purchasing an additional 20 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. boosted its holdings in United Rentals by 1.0% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 3,226 shares of the construction company’s stock worth $2,273,000 after purchasing an additional 32 shares during the period. 96.26% of the stock is currently 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.