United Rentals (NYSE:URI) Given New $985.00 Price Target at Citigroup

United Rentals (NYSE:URI) had its target price raised by Citigroup from $955.00 to $985.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s target price would indicate a potential upside of 23.71% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Truist Financial upped their target price on United Rentals from $954.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI raised their target price on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Barclays boosted their price target on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Bank of America raised their price objective 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. Finally, Argus increased their target price on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $770.00.

United Rentals Trading Down 4.7 %

Shares of URI opened at $796.23 on Monday. The stock has a market capitalization of $52.25 billion, a P/E ratio of 20.79, a PEG ratio of 2.01 and a beta of 1.66. United Rentals has a twelve month low of $491.60 and a twelve month high of $896.98. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The firm has a fifty day simple moving average of $834.54 and a two-hundred day simple moving average of $746.30.

United Rentals (NYSE:URI) last posted its 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 return on equity of 34.73% and a net margin of 17.12%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the company posted $11.73 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts anticipate that United Rentals will post 43.46 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On United Rentals

Hedge funds have recently bought and sold shares of the business. FMR LLC boosted its holdings in United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after purchasing an additional 85,325 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after buying an additional 1,604,715 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of United Rentals by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after acquiring an additional 9,256 shares during the period. Franklin Resources Inc. increased its position in United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after acquiring an additional 57,002 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in United Rentals by 10.5% in the third quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock valued at $570,167,000 after acquiring an additional 66,957 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

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.