Truist Financial Has Lowered Expectations for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its target price cut by research analysts at Truist Financial from $965.00 to $963.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target indicates a potential upside of 24.93% from the company’s previous close.

URI has been the subject of a number of other research reports. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Bank of America boosted their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Argus upped their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Barclays increased their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $805.08.

United Rentals Trading Up 1.8 %

Shares of NYSE:URI opened at $770.81 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The stock’s 50-day moving average is $778.79 and its 200-day moving average is $760.78. The company has a market cap of $50.58 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.46 and a beta of 1.69. United Rentals has a 52-week low of $553.22 and a 52-week high of $896.98.

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

Insider Activity

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On United Rentals

Several large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in United Rentals by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 85,276 shares of the construction company’s stock worth $55,151,000 after purchasing an additional 2,902 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in shares of United Rentals by 8.8% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,163 shares of the construction company’s stock valued at $752,000 after buying an additional 94 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of United Rentals by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,777 shares of the construction company’s stock worth $21,029,000 after acquiring an additional 889 shares in the last quarter. Argent Trust Co raised its holdings in shares of United Rentals by 67.2% during the second quarter. Argent Trust Co now owns 2,119 shares of the construction company’s stock worth $1,370,000 after acquiring an additional 852 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in United Rentals by 15.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,089 shares of the construction company’s stock valued at $704,000 after acquiring an additional 145 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

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.