United Rentals (NYSE:URI)‘s stock had its “hold” rating reaffirmed by Zacks Investment Research in a report issued on Saturday. They currently have a $134.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 16.55% from the stock’s current price.
According to Zacks, “United Rentals’ third-quarter 2018 earnings and revenues surpassed the Zacks Consensus Estimate and improved 45.8% and 19.8%, respectively, year-over-year. The upside can be attributed to strong gains in equipment rental volume (up 7.4%), margins and rental rates (up 2.1%). Adjusted EBITDA margin improved 20 bps, given robust demand across construction and industrial verticals in the United States and Canada. Meanwhile, United Rentals’ focus on expanding geographic borders and product portfolio through acquisitions and joint ventures bodes well. The recent BlueLine buyout will boost its fleet by more than 46,000 rental assets across 114 branch locations. Shares of United Rentals which have been underperforming its industry year to date, gained 6.4% following third-quarter earnings release. Earnings estimates for 2018 and 2019 have also moved 0.4% and 1.9% north, respectively, over the past 30 days, reflecting analysts’ optimism.”
Several other research analysts have also recently weighed in on URI. UBS Group set a $196.00 price objective on United Rentals and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Deutsche Bank set a $158.00 price objective on United Rentals and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Bank of America set a $200.00 price objective on United Rentals and gave the stock a “buy” rating in a research report on Thursday, September 13th. Buckingham Research set a $190.00 price objective on United Rentals and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Finally, ValuEngine cut United Rentals from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $165.69.
United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 17th. The construction company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.56 by $0.18. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.03 billion. United Rentals had a return on equity of 39.46% and a net margin of 21.96%. United Rentals’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.25 earnings per share. Sell-side analysts forecast that United Rentals will post 16.23 earnings per share for the current year.
In related news, Director Donald C. Roof sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $167.78, for a total transaction of $838,900.00. Following the sale, the director now owns 12,564 shares in the company, valued at $2,107,987.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jose B. Alvarez bought 544 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average price of $107.45 per share, for a total transaction of $58,452.80. Following the acquisition, the director now directly owns 2,413 shares of the company’s stock, valued at approximately $259,276.85. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in URI. Point72 Hong Kong Ltd bought a new stake in United Rentals in the third quarter valued at approximately $106,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in United Rentals by 103.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 984 shares of the construction company’s stock valued at $161,000 after buying an additional 500 shares during the period. Moneta Group Investment Advisors LLC raised its stake in United Rentals by 93.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,245 shares of the construction company’s stock valued at $184,000 after buying an additional 600 shares during the period. Cerebellum GP LLC bought a new stake in United Rentals in the third quarter valued at approximately $187,000. Finally, Lincoln National Corp bought a new stake in United Rentals in the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 87.97% of the company’s stock.
United Rentals Company Profile
United Rentals, Inc is a holding company, which through its subsidiary, engages in the equipment rental business. It offers rent to construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities. The company operates through two business segments: General Rentals; and Trench, power and pump.
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