An issue of United Rentals, Inc. (NYSE:URI) debt fell 0.8% against its face value during trading on Wednesday. The high-yield debt issue has a 5.875% coupon and will mature on September 15, 2026. The bonds in the issue are now trading at $99.70 and were trading at $102.75 one week ago. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
A number of brokerages have weighed in on URI. UBS Group upgraded United Rentals from a “neutral” rating to a “buy” rating and set a $196.00 target price on the stock in a research note on Friday, June 22nd. Zacks Investment Research lowered United Rentals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Bank of America decreased their target price on United Rentals from $230.00 to $186.00 and set a “buy” rating on the stock in a research note on Thursday, May 3rd. Finally, ValuEngine lowered United Rentals from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $188.64.
Shares of United Rentals stock traded up $0.40 during trading on Wednesday, hitting $145.15. 643,951 shares of the stock traded hands, compared to its average volume of 1,264,888. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $12.10 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.53 and a beta of 2.52. United Rentals, Inc. has a 52 week low of $106.52 and a 52 week high of $190.74.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 18th. The construction company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.34 by $0.53. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.68 billion. United Rentals had a return on equity of 39.19% and a net margin of 20.23%. The company’s revenue was up 27.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. analysts predict that United Rentals, Inc. will post 15.45 earnings per share for the current fiscal year.
United Rentals declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 18th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 9.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
In other news, CEO Michael Kneeland sold 30,000 shares of the stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $169.00, for a total transaction of $5,070,000.00. Following the transaction, the chief executive officer now directly owns 249,925 shares in the company, valued at approximately $42,237,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC boosted its holdings in United Rentals by 1,190.0% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 645 shares of the construction company’s stock valued at $111,000 after acquiring an additional 595 shares during the period. Signaturefd LLC purchased a new stake in United Rentals during the 1st quarter valued at about $128,000. Optimum Investment Advisors purchased a new stake in United Rentals during the 1st quarter valued at about $164,000. Cypress Capital Management LLC WY boosted its holdings in United Rentals by 55.2% during the 1st quarter. Cypress Capital Management LLC WY now owns 1,195 shares of the construction company’s stock valued at $206,000 after acquiring an additional 425 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in United Rentals during the 1st quarter valued at about $208,000. Institutional investors own 84.88% 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 Trench, Power, and Pump. The General Rentals segment engages in the rental of general construction and industrial equipment, such as 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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