United Rentals (NYSE:URI) Price Target Raised to $790.00 at The Goldman Sachs Group

United Rentals (NYSE:URI) had its price target upped by The Goldman Sachs Group from $718.00 to $790.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 20.04% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Robert W. Baird increased their price target on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. Morgan Stanley started coverage on United Rentals in a research note on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price target on the stock. Stifel Nicolaus increased their price target on United Rentals from $494.00 to $591.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. BNP Paribas reissued an “underperform” rating and issued a $485.00 price target on shares of United Rentals in a research note on Friday, January 5th. Finally, Evercore ISI raised their price objective on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, United Rentals presently has an average rating of “Hold” and an average target price of $589.21.

United Rentals Price Performance

NYSE URI traded down $8.62 during trading hours on Tuesday, reaching $658.12. 58,185 shares of the company’s stock were exchanged, compared to its average volume of 568,507. The stock has a market cap of $44.21 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.34 and a beta of 1.84. United Rentals has a one year low of $325.15 and a one year high of $732.37. The firm has a fifty day moving average of $680.96 and a 200-day moving average of $566.65. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.85 by $0.41. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $9.74 EPS. On average, equities research analysts predict that United Rentals will post 43.05 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at United Rentals

In related news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its holdings in shares of United Rentals by 6.4% during the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock valued at $9,588,000 after purchasing an additional 1,304 shares during the period. Graybill Wealth Management LTD. lifted its position in United Rentals by 0.6% in the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after acquiring an additional 58 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in United Rentals by 55.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after buying an additional 2,289 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in United Rentals in the 4th quarter valued at approximately $22,529,000. Finally, Teza Capital Management LLC grew its stake in United Rentals by 40.5% in the 3rd quarter. Teza Capital Management LLC now owns 5,012 shares of the construction company’s stock valued at $2,228,000 after buying an additional 1,445 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

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.