United Rentals (NYSE:URI) Given New $750.00 Price Target at Bank of America

United Rentals (NYSE:URI) had its price objective reduced by analysts at Bank of America from $850.00 to $750.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Bank of America‘s price objective would indicate a potential upside of 18.83% from the stock’s previous close.

Several other research firms have also recently weighed in on URI. Morgan Stanley lowered their price objective on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Evercore ISI lowered their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Citigroup lowered their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $815.67.

United Rentals Trading Up 0.7 %

Shares of United Rentals stock opened at $631.14 on Friday. The stock has a market capitalization of $41.22 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company has a 50-day simple moving average of $697.25 and a 200 day simple moving average of $757.17. United Rentals has a 12-month low of $585.27 and a 12-month high of $896.98.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Research analysts expect that United Rentals will post 44.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by insiders.

Institutional Trading of United Rentals

Several hedge funds have recently bought and sold shares of URI. Norges Bank acquired a new stake in United Rentals during the 4th quarter worth approximately $695,716,000. Leigh Baldwin & CO. LLC acquired a new stake in United Rentals during the 4th quarter worth approximately $330,989,000. Capital World Investors raised its holdings in United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock worth $1,564,722,000 after buying an additional 323,636 shares during the period. Capital International Investors raised its holdings in shares of United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock valued at $740,624,000 after purchasing an additional 305,491 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of United Rentals by 105.6% in the fourth quarter. Marshall Wace LLP now owns 546,165 shares of the construction company’s stock valued at $384,740,000 after purchasing an additional 280,502 shares during the last quarter. 96.26% of the stock is currently 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.