United Rentals (NYSE:URI) Shares Up 3.1% After Earnings Beat

United Rentals, Inc. (NYSE:URI)’s stock price shot up 3.1% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $132.80 and last traded at $125.48, 4,088,192 shares were traded during trading. An increase of 178% from the average session volume of 1,472,703 shares. The stock had previously closed at $121.67.

The construction company reported $5.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.74 by $0.22. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. United Rentals had a net margin of 12.32% and a return on equity of 41.97%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $4.74 EPS.

Several research firms recently issued reports on URI. Morgan Stanley reduced their price target on shares of United Rentals from $168.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Deutsche Bank set a $128.00 price target on shares of United Rentals and gave the stock a “hold” rating in a research report on Friday, July 19th. Macquarie set a $99.00 price target on shares of United Rentals and gave the stock a “sell” rating in a research report on Friday, July 19th. Royal Bank of Canada set a $164.00 price target on shares of United Rentals and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine lowered shares of United Rentals from a “sell” rating to a “strong sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. United Rentals has a consensus rating of “Hold” and a consensus target price of $137.80.

In related news, Director Donald C. Roof bought 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were purchased at an average price of $118.27 per share, for a total transaction of $591,350.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Filippo Passerini bought 2,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was bought at an average price of $110.37 per share, for a total transaction of $220,740.00. Following the transaction, the director now directly owns 8,783 shares of the company’s stock, valued at $969,379.71. The disclosure for this purchase can be found here. Insiders acquired 7,238 shares of company stock worth $842,073 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently modified their holdings of the business. DNB Asset Management AS boosted its position in United Rentals by 2.8% in the second quarter. DNB Asset Management AS now owns 26,840 shares of the construction company’s stock valued at $3,560,000 after buying an additional 740 shares in the last quarter. Pendal Group Ltd acquired a new stake in United Rentals in the second quarter valued at approximately $465,000. Putnam FL Investment Management Co. raised its stake in shares of United Rentals by 30.9% during the second quarter. Putnam FL Investment Management Co. now owns 3,290 shares of the construction company’s stock valued at $436,000 after acquiring an additional 777 shares during the last quarter. Lyrical Asset Management LP raised its stake in shares of United Rentals by 38.0% during the second quarter. Lyrical Asset Management LP now owns 2,220,998 shares of the construction company’s stock valued at $294,571,000 after acquiring an additional 611,715 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in shares of United Rentals by 49.1% during the second quarter. Glen Harbor Capital Management LLC now owns 18,160 shares of the construction company’s stock valued at $2,409,000 after acquiring an additional 5,984 shares during the last quarter. Hedge funds and other institutional investors own 87.64% of the company’s stock.

The company’s 50 day moving average price is $120.58 and its 200-day moving average price is $123.51. The stock has a market cap of $9.31 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.53 and a beta of 2.66. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 3.08.

United Rentals Company Profile (NYSE:URI)

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.

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