JPMorgan Chase & Co. Increases United Rentals (NYSE:URI) Price Target to $940.00

United Rentals (NYSE:URI) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $780.00 to $940.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 17.17% from the company’s current price.

Several other research firms also recently weighed in on URI. Citigroup initiated coverage on United Rentals in a research report on Wednesday, June 26th. They set a “buy” rating and a $745.00 target price for the company. Raymond James began coverage on shares of United Rentals in a report on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective for the company. Truist Financial boosted their price objective on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Evercore ISI raised their target price on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, The Goldman Sachs Group boosted their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, United Rentals has a consensus rating of “Hold” and an average target price of $687.46.

United Rentals Trading Up 0.4 %

URI stock opened at $802.26 on Monday. The firm’s fifty day simple moving average is $725.29 and its two-hundred day simple moving average is $689.02. The stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.72 and a beta of 1.68. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. United Rentals has a twelve month low of $387.01 and a twelve month high of $807.79.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the company posted $9.88 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts anticipate that United Rentals will post 44.39 earnings per share for the current year.

Insider Transactions at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at $2,822,100. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of URI. Capital Research Global Investors lifted its position in United Rentals by 39.1% during the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after purchasing an additional 1,799,997 shares during the period. Capital International Investors acquired a new position in shares of United Rentals in the 1st quarter valued at about $332,349,000. AMF Tjanstepension AB boosted its stake in shares of United Rentals by 77.7% in the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after buying an additional 199,810 shares during the last quarter. Marshall Wace LLP grew its holdings in United Rentals by 259.3% during the second quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock worth $97,108,000 after acquiring an additional 108,360 shares during the period. Finally, AGF Management Ltd. grew its holdings in United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after acquiring an additional 101,547 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Company Profile

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.