United Rentals (NYSE:URI) Given New $1,100.00 Price Target at JPMorgan Chase & Co.

United Rentals (NYSE:URI) had its price objective upped by research analysts at JPMorgan Chase & Co. from $1,050.00 to $1,100.00 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 would suggest a potential upside of 0.92% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on URI. Bank of America raised their target price on shares of United Rentals from $1,020.00 to $1,195.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target on the stock in a report on Monday, June 29th. UBS Group raised their price objective on shares of United Rentals from $1,145.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. KeyCorp lifted their price objective on shares of United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Finally, Evercore reaffirmed an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research note on Monday, May 11th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $1,127.81.

United Rentals Price Performance

Shares of URI traded down $5.59 during mid-day trading on Monday, reaching $1,089.96. 61,415 shares of the stock traded hands, compared to its average volume of 600,282. The company has a market cap of $68.28 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.79. United Rentals has a 1 year low of $701.59 and a 1 year high of $1,143.69. The firm has a fifty day moving average price of $1,029.74 and a 200 day moving average price of $902.60. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.47 by ($1.76). The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. United Rentals’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $8.86 EPS. As a group, equities research analysts predict that United Rentals will post 46.7 earnings per share for the current year.

Insider Transactions at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 26,088 shares of company stock worth $25,628,877. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beacon Investment Advisory Services Inc. raised its stake in United Rentals by 1,358.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company’s stock valued at $6,658,000 after purchasing an additional 7,663 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in United Rentals by 18.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock valued at $9,514,000 after acquiring an additional 1,846 shares in the last quarter. Nordea Investment Management AB increased its holdings in United Rentals by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 154,688 shares of the construction company’s stock valued at $126,362,000 after acquiring an additional 28,604 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in United Rentals by 1.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 367,814 shares of the construction company’s stock worth $351,128,000 after purchasing an additional 5,115 shares in the last quarter. Finally, Addenda Capital Inc. lifted its stake in United Rentals by 21.3% in the 4th quarter. Addenda Capital Inc. now owns 16,739 shares of the construction company’s stock worth $13,547,000 after purchasing an additional 2,939 shares in the last quarter. Institutional investors 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.