Royal Bank of Canada reaffirmed their buy rating on shares of United Rentals (NYSE:URI) in a research report sent to investors on Thursday. They currently have a $194.00 price target on the construction company’s stock.
A number of other brokerages have also issued reports on URI. Jefferies Group boosted their target price on United Rentals from $150.00 to $165.00 and gave the stock a buy rating in a research report on Monday, October 16th. Bank of America set a $165.00 price target on United Rentals and gave the company a buy rating in a research report on Thursday, October 19th. UBS Group set a $150.00 price target on United Rentals and gave the company a hold rating in a research report on Thursday, October 19th. Buckingham Research began coverage on United Rentals in a research report on Tuesday, November 21st. They set a neutral rating and a $154.00 price target on the stock. Finally, Deutsche Bank reissued a hold rating and set a $157.00 price target (up from $130.00) on shares of United Rentals in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $159.68.
Shares of United Rentals (NYSE URI) opened at $180.89 on Thursday. The stock has a market capitalization of $15,298.77, a price-to-earnings ratio of 25.62, a PEG ratio of 0.76 and a beta of 2.67. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 3.47. United Rentals has a 52-week low of $100.62 and a 52-week high of $182.86.
United Rentals declared that its board has authorized a stock repurchase plan on Wednesday, October 18th that allows the company to buyback $373.00 million in outstanding shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
In other United Rentals news, COO Matthew John Flannery sold 22,324 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $147.44, for a total value of $3,291,450.56. Following the transaction, the chief operating officer now owns 31,243 shares in the company, valued at $4,606,467.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Kneeland sold 25,421 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $162.76, for a total value of $4,137,521.96. Following the completion of the transaction, the insider now owns 245,286 shares in the company, valued at approximately $39,922,749.36. The disclosure for this sale can be found here. Insiders have sold 91,760 shares of company stock worth $13,873,111 over the last three months. 1.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of URI. Fieldpoint Private Securities LLC purchased a new position in United Rentals in the third quarter valued at about $119,000. Americafirst Capital Management LLC purchased a new position in United Rentals in the second quarter valued at about $151,000. First Manhattan Co. boosted its stake in shares of United Rentals by 42.9% during the 3rd quarter. First Manhattan Co. now owns 1,415 shares of the construction company’s stock worth $196,000 after acquiring an additional 425 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of United Rentals by 8.8% during the 2nd quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock worth $202,000 after acquiring an additional 145 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of United Rentals during the 3rd quarter worth about $202,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
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About United Rentals
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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