United Rentals (URI) is Downgraded by BofA/Merrill to Underperform

United Rentals (URI) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on United Rentals. United Rentals was Downgraded by Stifel to ” Hold” on Apr 22, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 1, 2016 to “Outperform” and Lowered the Price Target to $ 65 from a previous price target of $90 .Shares were Reiterated by Stifel on Feb 1, 2016 to “Buy” and Lowered the Price Target to $ 57 from a previous price target of $92 .

On the company’s financial health, United Rentals reported $1.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.19. The company had revenue of $1310.00 million for the quarter, compared to analysts expectations of $1286.32 million. The company’s revenue was down -.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.34 EPS.

United Rentals opened for trading at $57.15 and hit $65.74 on the upside on Wednesday, eventually ending the session at $64.87, with a gain of 7.86% or 4.73 points. The heightened volatility saw the trading volume jump to 76,68,990 shares. Company has a market cap of $5,901 M.

In a different news, on Mar 11, 2016, John S Mckinney (director) sold 2,200 shares at $58.18 per share price. According to the SEC, on Mar 9, 2016, Jason D Papastavrou (director) purchased 1,000 shares at $56.79 per share price. On Mar 8, 2016, Michael Kneeland (President and CEO) sold 20,000 shares at $60.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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 3300 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.

United Rentals

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