United Rentals (NYSE:URI) Issues Quarterly Earnings Results

United Rentals (NYSE:URI) issued its quarterly earnings results on Wednesday. The construction company reported $11.09 earnings per share for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77), FiscalAI reports. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.24 billion. United Rentals had a return on equity of 31.30% and a net margin of 15.83%.

United Rentals Stock Performance

Shares of NYSE:URI traded down $4.41 on Wednesday, reaching $903.04. 607,410 shares of the company’s stock were exchanged, compared to its average volume of 602,162. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.40. United Rentals has a fifty-two week low of $525.91 and a fifty-two week high of $1,021.47. The business’s 50-day moving average is $847.51 and its two-hundred day moving average is $888.11. The firm has a market capitalization of $57.46 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.90 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on URI shares. Truist Financial cut their price target on United Rentals from $1,169.00 to $1,045.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a report on Sunday, January 4th. Barclays reduced their target price on United Rentals from $620.00 to $600.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Wednesday, January 21st. Finally, KeyCorp reissued an “overweight” rating on shares of United Rentals in a research note on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $970.76.

Institutional Trading of United Rentals

Large investors have recently modified their holdings of the company. Great Valley Advisor Group Inc. grew its position in United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after purchasing an additional 11 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of United Rentals by 2.9% in the second quarter. Evergreen Capital Management LLC now owns 599 shares of the construction company’s stock valued at $451,000 after purchasing an additional 17 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in United Rentals by 38.5% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 90 shares of the construction company’s stock worth $86,000 after purchasing an additional 25 shares during the period. American Trust boosted its stake in United Rentals by 3.0% during the third quarter. American Trust now owns 1,383 shares of the construction company’s stock worth $1,320,000 after buying an additional 40 shares in the last quarter. Finally, Equitable Holdings Inc. increased its holdings in United Rentals by 0.9% in the 3rd quarter. Equitable Holdings Inc. now owns 5,292 shares of the construction company’s stock valued at $5,052,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.