United Rentals, Inc. (URI) Debt Trading 1.9% Lower

An issue of United Rentals, Inc. (NYSE:URI) debt fell 1.9% as a percentage of its face value during trading on Friday. The high-yield issue of debt has a 5.75% coupon and is set to mature on November 15, 2024. The debt is now trading at $107.00 and was trading at $107.28 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

URI has been the topic of a number of recent analyst reports. BidaskClub raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of United Rentals in a research report on Friday, June 9th. ValuEngine cut shares of United Rentals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 20th. Bank of America Corporation reaffirmed a “buy” rating and issued a $145.00 target price (up previously from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. Finally, Citigroup Inc. increased their price target on shares of United Rentals from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $126.97.

United Rentals, Inc. (NYSE URI) opened at 126.69 on Friday. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 18.40 and a beta of 2.42. The firm has a 50-day moving average of $115.90 and a 200 day moving average of $115.82. United Rentals, Inc. has a 52 week low of $70.58 and a 52 week high of $134.28.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.28 by $0.09. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. United Rentals’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.06 EPS. On average, analysts anticipate that United Rentals, Inc. will post $9.91 EPS for the current year.

In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $120.77, for a total value of $3,623,100.00. Following the transaction, the insider now directly owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cleararc Capital Inc. raised its position in shares of United Rentals by 0.6% in the 1st quarter. Cleararc Capital Inc. now owns 2,048 shares of the construction company’s stock valued at $256,000 after purchasing an additional 12 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its position in shares of United Rentals by 0.3% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 5,360 shares of the construction company’s stock valued at $604,000 after purchasing an additional 15 shares in the last quarter. Profund Advisors LLC raised its position in shares of United Rentals by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 2,256 shares of the construction company’s stock valued at $254,000 after purchasing an additional 24 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of United Rentals by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,279 shares of the construction company’s stock valued at $708,000 after purchasing an additional 25 shares in the last quarter. Finally, Bank of Hawaii raised its position in shares of United Rentals by 0.3% in the 2nd quarter. Bank of Hawaii now owns 11,330 shares of the construction company’s stock valued at $1,277,000 after purchasing an additional 30 shares in the last quarter. 93.72% of the stock is currently owned by institutional investors.

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United Rentals Company Profile

United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.

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