United Rentals (NYSE:URI) had its price objective lowered by Morgan Stanley from $168.00 to $155.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the construction company’s stock.
URI has been the topic of several other reports. Citigroup reiterated a buy rating and set a $160.00 target price on shares of United Rentals in a research note on Wednesday, September 11th. Deutsche Bank set a $128.00 target price on United Rentals and gave the company a hold rating in a research note on Friday, July 19th. Zacks Investment Research upgraded United Rentals from a hold rating to a buy rating and set a $137.00 target price on the stock in a research note on Friday, June 21st. Goldman Sachs Group upgraded United Rentals from a neutral rating to a buy rating and increased their target price for the company from $128.00 to $165.00 in a research note on Friday, September 20th. Finally, Royal Bank of Canada set a $164.00 target price on United Rentals and gave the company a buy rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. United Rentals has an average rating of Hold and a consensus price target of $142.82.
URI traded up $2.35 during trading on Wednesday, hitting $113.83. 11,099 shares of the company’s stock traded hands, compared to its average volume of 1,465,649. The company’s 50 day simple moving average is $118.20 and its two-hundred day simple moving average is $123.12. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 3.08. United Rentals has a 12-month low of $94.28 and a 12-month high of $152.58. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 0.50 and a beta of 2.66.
In related news, Director Jose B. Alvarez bought 238 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were bought at an average cost of $125.98 per share, with a total value of $29,983.24. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Filippo Passerini bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average cost of $110.37 per share, for a total transaction of $220,740.00. Following the completion of the acquisition, the director now owns 8,783 shares in the company, valued at approximately $969,379.71. The disclosure for this purchase can be found here. Insiders have bought a total of 7,238 shares of company stock worth $842,073 over the last three months. Insiders own 1.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in URI. Cerebellum GP LLC raised its holdings in United Rentals by 32.8% during the third quarter. Cerebellum GP LLC now owns 3,589 shares of the construction company’s stock valued at $447,000 after acquiring an additional 886 shares during the period. North Star Investment Management Corp. bought a new stake in United Rentals during the third quarter valued at about $31,000. Private Trust Co. NA raised its holdings in United Rentals by 27.6% during the third quarter. Private Trust Co. NA now owns 2,256 shares of the construction company’s stock valued at $281,000 after acquiring an additional 488 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in United Rentals by 1.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,630 shares of the construction company’s stock valued at $3,001,000 after acquiring an additional 327 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in United Rentals during the second quarter valued at about $1,461,000. 87.43% of the stock is currently owned by institutional investors.
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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