United Rentals, Inc. (NYSE:URI) Sees Significant Decline in Short Interest

United Rentals, Inc. (NYSE:URI) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 2,250,000 shares, a decrease of 16.4% from the March 31st total of 2,690,000 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 773,900 shares, the days-to-cover ratio is currently 2.9 days.

URI has been the topic of several research reports. Citigroup increased their price target on shares of United Rentals from $265.00 to $350.00 in a report on Tuesday, March 16th. Deutsche Bank Aktiengesellschaft upped their price objective on United Rentals from $280.00 to $348.00 and gave the stock a “hold” rating in a research report on Monday, April 19th. Redburn Partners assumed coverage on United Rentals in a research report on Wednesday, February 24th. They issued a “buy” rating on the stock. Zacks Investment Research lowered United Rentals from a “buy” rating to a “hold” rating and set a $266.00 price objective on the stock. in a research report on Tuesday, February 2nd. Finally, Vertical Research assumed coverage on United Rentals in a research report on Wednesday, January 20th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $278.07.

In related news, EVP Craig Adam Pintoff sold 1,692 shares of the stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $314.37, for a total value of $531,914.04. Following the transaction, the executive vice president now owns 18,876 shares in the company, valued at approximately $5,934,048.12. The sale was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. CLARET ASSET MANAGEMENT Corp acquired a new stake in shares of United Rentals in the 1st quarter worth $207,000. Envestnet Asset Management Inc. increased its stake in shares of United Rentals by 32.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 87,138 shares of the construction company’s stock worth $28,695,000 after acquiring an additional 21,436 shares during the last quarter. Mount Yale Investment Advisors LLC increased its stake in shares of United Rentals by 5.6% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 4,217 shares of the construction company’s stock worth $1,389,000 after acquiring an additional 223 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of United Rentals by 3.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 101,840 shares of the construction company’s stock worth $33,536,000 after acquiring an additional 3,652 shares during the last quarter. Finally, Kovack Advisors Inc. acquired a new stake in shares of United Rentals in the 1st quarter worth $334,000. Institutional investors own 96.14% of the company’s stock.

URI stock traded up $8.15 during midday trading on Tuesday, reaching $329.95. The stock had a trading volume of 849,227 shares, compared to its average volume of 767,336. The company’s fifty day simple moving average is $322.44 and its 200 day simple moving average is $262.61. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 2.25. The company has a market cap of $23.88 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 2.23 and a beta of 2.25. United Rentals has a 52-week low of $105.26 and a 52-week high of $341.00.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 28th. The construction company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.35. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.98 billion. United Rentals had a return on equity of 34.19% and a net margin of 10.69%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.35 EPS. Sell-side analysts predict that United Rentals will post 16.75 EPS for the current year.

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 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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