United Rentals (URI) is Upgraded by BofA/Merrill to Neutral

United Rentals (URI) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 18, 2016.

Many Wall Street Analysts have commented on United Rentals. Company shares were Reiterated by RBC Capital Mkts on Jul 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 80 from a previous price target of $68 .Company shares were Reiterated by Citigroup on Jun 13, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $72 .Company shares were Reiterated by UBS on Jun 3, 2016 to “Buy”, Firm has raised the Price Target to $ 71 from a previous price target of $56 .

On the company’s financial health, United Rentals reported $2.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.82. The company had revenue of $1421.00 million for the quarter, compared to analysts expectations of $1393.53 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.95 EPS.

United Rentals closed down -0.26 points or -0.33% at $77.62 with 10,35,164 shares getting traded on Wednesday. Post opening the session at $77.92, the shares hit an intraday low of $77.16 and an intraday high of $78.05 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Aug 1, 2016, Lawrence Keith Wimbush (director) sold 3,000 shares at $79.04 per share price. According to the SEC, on Aug 1, 2016, John S Mckinney (director) sold 2,500 shares at $79.78 per share price. On Jul 27, 2016, Dale A Asplund (SVP – Business Services & CIO) sold 17,972 shares at $78.52 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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