Shares of United Rentals Inc. (NYSE:URI) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $83.79 and last traded at $82.85, with a volume of 736,424 shares. The stock had previously closed at $81.96.
A number of brokerages recently issued reports on URI. Deutsche Bank AG began coverage on shares of United Rentals in a report on Tuesday. They set a “hold” rating and a $79.00 price target on the stock. Axiom Securities reissued a “sell” rating on shares of United Rentals in a report on Tuesday, August 30th. Macquarie began coverage on shares of United Rentals in a report on Thursday, August 25th. They set an “underperform” rating and a $92.00 price target on the stock. Bank of America Corp. raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a report on Thursday, August 18th. Finally, Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. United Rentals presently has an average rating of “Hold” and a consensus price target of $74.85.
The company has a market capitalization of $7.18 billion and a price-to-earnings ratio of 12.56. The firm’s 50 day moving average price is $79.01 and its 200 day moving average price is $67.48.
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United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.24. During the same period last year, the company earned $1.95 earnings per share. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts anticipate that United Rentals Inc. will post $8.05 EPS for the current year.
In related news, insider Michael Kneeland sold 20,000 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $76.35, for a total value of $1,527,000.00. Following the sale, the insider now directly owns 387,169 shares in the company, valued at approximately $29,560,353.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Mcauley sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $81.09, for a total transaction of $324,360.00. The disclosure for this sale can be found here.
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, general tools and light equipment, such as pressure washers, water pumps and power tools.
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