United Rentals (NYSE:URI) Upgraded to Overweight at Morgan Stanley

United Rentals (NYSE:URI) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $702.00 price objective on the construction company’s stock. Morgan Stanley’s target price points to a potential upside of 18.82% from the stock’s current price.

A number of other research analysts also recently weighed in on URI. Truist Financial lowered their target price on United Rentals from $956.00 to $732.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price objective on United Rentals from $1,000.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI dropped their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $729.79.

United Rentals Stock Performance

United Rentals stock opened at $590.80 on Wednesday. United Rentals has a 1-year low of $525.91 and a 1-year high of $896.98. The firm has a market cap of $38.60 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.43 and a beta of 1.72. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average of $632.19 and a 200-day moving average of $735.11.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Sell-side analysts expect that United Rentals will post 44.8 EPS for the current year.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GHP Investment Advisors Inc. grew its holdings in United Rentals by 6.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock worth $10,464,000 after acquiring an additional 877 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in United Rentals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 445,214 shares of the construction company’s stock valued at $313,627,000 after acquiring an additional 6,787 shares during the period. Fiduciary Alliance LLC raised its stake in United Rentals by 196.5% during the 4th quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock valued at $1,000,000 after acquiring an additional 941 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in United Rentals during the 4th quarter worth approximately $649,000. Finally, Nordea Investment Management AB grew its stake in shares of United Rentals by 7.6% in the 4th quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after purchasing an additional 52,037 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

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.