JPMorgan Chase & Co. Issues Pessimistic Forecast for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its target price reduced by research analysts at JPMorgan Chase & Co. from $1,000.00 to $750.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 25.49% from the company’s current price.

Several other analysts have also recently weighed in on the company. Citigroup reduced their price target on United Rentals from $720.00 to $650.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a research report on Tuesday, January 14th. UBS Group lowered shares of United Rentals from a “buy” rating to a “sell” rating and cut their price target for the stock from $910.00 to $485.00 in a report on Monday, April 7th. Truist Financial decreased their price objective on United Rentals from $956.00 to $732.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $734.29.

United Rentals Price Performance

URI stock opened at $597.65 on Monday. The stock has a market cap of $39.05 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.43 and a beta of 1.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company has a 50 day simple moving average of $638.42 and a 200 day simple moving average of $737.67. United Rentals has a 1 year low of $525.91 and a 1 year high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly 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 return on equity of 34.21% and a net margin of 16.78%. Research analysts anticipate that United Rentals will post 44.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Adell Harriman & Carpenter Inc. boosted its stake in United Rentals by 1.8% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company’s stock valued at $573,000 after purchasing an additional 14 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in shares of United Rentals by 1.8% in the fourth quarter. Valmark Advisers Inc. now owns 788 shares of the construction company’s stock valued at $555,000 after purchasing an additional 14 shares in the last quarter. Erste Asset Management GmbH boosted its position in shares of United Rentals by 0.5% during the fourth quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company’s stock valued at $2,002,000 after buying an additional 14 shares during the last quarter. Forum Financial Management LP grew its holdings in United Rentals by 1.9% during the fourth quarter. Forum Financial Management LP now owns 749 shares of the construction company’s stock worth $528,000 after buying an additional 14 shares in the last quarter. Finally, Klingman & Associates LLC raised its position in United Rentals by 2.3% in the 4th quarter. Klingman & Associates LLC now owns 669 shares of the construction company’s stock valued at $471,000 after buying an additional 15 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

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.