United Rentals (NYSE:URI) Given “Market Perform” Rating at Oppenheimer

United Rentals (NYSE:URI)‘s stock had its “market perform” rating reissued by investment analysts at Oppenheimer in a report released on Monday, Benzinga reports.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group increased their price target on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Stifel Nicolaus upped their target price on shares of United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley initiated coverage on shares of United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target for the company. Truist Financial increased their price objective on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company increased their price target on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $600.79.

United Rentals Stock Performance

United Rentals stock traded up $20.36 during trading on Monday, reaching $711.16. The company had a trading volume of 307,711 shares, compared to its average volume of 584,084. United Rentals has a 52 week low of $325.15 and a 52 week high of $732.37. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $47.36 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 2.10 and a beta of 1.84. The firm’s 50-day simple moving average is $681.18 and its 200 day simple moving average is $580.42.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating the consensus estimate of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $7.95 EPS. Sell-side analysts forecast that United Rentals will post 43.54 earnings per share for the current fiscal year.

United Rentals announced that its board has approved a stock repurchase plan on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by insiders.

Institutional Trading of United Rentals

A number of hedge funds have recently added to or reduced their stakes in the company. Hoylecohen LLC boosted its stake in shares of United Rentals by 1.4% during the 4th quarter. Hoylecohen LLC now owns 1,163 shares of the construction company’s stock worth $667,000 after acquiring an additional 16 shares in the last quarter. Ballentine Partners LLC boosted its position in United Rentals by 2.1% during the fourth quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock worth $510,000 after purchasing an additional 18 shares in the last quarter. DGS Capital Management LLC increased its position in shares of United Rentals by 1.3% in the fourth quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company’s stock valued at $827,000 after buying an additional 18 shares in the last quarter. Oak Ridge Investments LLC lifted its position in shares of United Rentals by 0.3% during the 4th quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock valued at $3,335,000 after buying an additional 20 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in United Rentals by 2.3% in the 4th quarter. Caprock Group LLC now owns 900 shares of the construction company’s stock worth $516,000 after acquiring an additional 20 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

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.