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

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

Several other analysts also recently weighed in on the stock. Bank of America lifted their price objective on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Truist Financial lifted their price target on United Rentals from $955.00 to $965.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a 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 research report on Tuesday. Finally, Barclays boosted their price target on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus price target of $805.25.

United Rentals Stock Up 1.6 %

Shares of United Rentals stock opened at $741.70 on Tuesday. The stock has a market capitalization of $48.67 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.83 and a beta of 1.69. United Rentals has a twelve month low of $545.16 and a twelve month high of $896.98. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The business’s 50 day simple moving average is $785.71 and its 200-day simple moving average is $760.02.

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

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction 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 owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On United Rentals

A number of institutional investors and hedge funds have recently modified their holdings of URI. Mayflower Financial Advisors LLC grew its holdings in United Rentals by 4.0% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 339 shares of the construction company’s stock valued at $274,000 after buying an additional 13 shares during the last quarter. First County Bank CT increased its position in United Rentals by 3.2% during the third quarter. First County Bank CT now owns 422 shares of the construction company’s stock worth $342,000 after acquiring an additional 13 shares during the period. Allen Capital Group LLC boosted its holdings in United Rentals by 4.2% in the 3rd quarter. Allen Capital Group LLC now owns 324 shares of the construction company’s stock valued at $262,000 after purchasing an additional 13 shares during the period. IAM Advisory LLC increased its holdings in shares of United Rentals by 1.6% during the 3rd quarter. IAM Advisory LLC now owns 900 shares of the construction company’s stock worth $729,000 after purchasing an additional 14 shares during the period. Finally, CVA Family Office LLC raised its position in shares of United Rentals by 1.7% during the third quarter. CVA Family Office LLC now owns 844 shares of the construction company’s stock valued at $683,000 after buying an additional 14 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

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.