CFRA analyst Elizabeth Vermillion maintained a Buy rating on United Rentals (NYSE: URI) on July 14 and set a price target of $190. The company’s shares opened today at $156.57.
Vermillion commented:
“Revenues increased 27.9% year-over-year, driven by rental revenue increases of 25.1%. Rental revenues benefited from equipment volume growth of 26.1% and a 1.9% increase in rental rates. The trench, power and pump segment saw 36.5% growth year-over-year on a mostly same-store basis.”
The word on The Street in general, suggests a Strong Buy analyst consensus rating for United Rentals with a $187.33 average price target, which is a 19.6% upside from current levels. In a report issued on July 3, Stifel Nicolaus also maintained a Buy rating on the stock.
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Based on United Rentals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.73 billion and net profit of $183 million. In comparison, last year the company earned revenue of $1.6 billion and had a net profit of $141 million.
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United Rentals, Inc. is a holding company, which through its subsidiary, engages in the equipment rental business. It offers rent to construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities. The company operates through two business segments: General Rentals; and Trench, power and pump.
