United Rentals (URI) : Traders are bullish on United Rentals (URI) as it has outperformed the S&P 500 by a wide margin of 2.18% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.41%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.37% in the last 1 week, and is up 2.57% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
United Rentals, Inc. is up 22.92% in the last 3-month period. Year-to-Date the stock performance stands at 10.6%. The stock has recorded a 20-day Moving Average of 2.12% and the 50-Day Moving Average is 10.77%.
United Rentals (NYSE:URI): The stock opened at $80.24 on Friday but the bulls could not build on the opening and the stock topped out at $80.57 for the day. The stock traded down to $79.12 during the day, due to lack of any buying support eventually closed down at $80.23 with a loss of -0.72% for the day. The stock had closed at $80.81 on the previous day. The total traded volume was 1,387,940 shares.
Also, Bank of America upgrades its rating on United Rentals (NYSE:URI). Analysts at the Bank of America have a current rating of Neutral on the shares. The shares were previously rated Underperform. The rating by the firm was issued on August 18, 2016.
United Rentals, Inc. (United Rentals) is a holding company engaged in the business of equipment rental. The Company conducts its operations through its wholly owned subsidiary, United Rentals (North America), Inc. (URNA), and its subsidiaries. It operates in two segments: general rentals and trench safety, power and heating, ventilating and air conditioning (HVAC), and pump solutions. The general rentals segment consists of around 12 geographic regions, including eastern Canada, Gulf South, Mid-Atlantic, Mid-Central, Midwest, Mountain West, Northeast, Pacific West, South, Southeast and Western Canada, among others. The trench safety, power and HVAC, and pump solutions segment includes the rental of specialty construction products and related services. It offers approximately 3,300 classes of equipment on an hourly, daily, weekly or monthly basis to construction and industrial companies, manufacturers, utilities, municipalities, homeowners, Government entities and other customers.