Bank of America Upgrades United Rentals to Neutral

Brokerage firm Bank of America Upgrades its rating on United Rentals(NYSE:URI). The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by Bank of America was issued on Aug 18, 2016.

In a different note, On Jun 13, 2016, Citigroup said it Maintains its rating on United Rentals. In the research note, the firm Raises the price-target to $72.00 per share. The shares have been rated ‘Buy’ by the firm.

United Rentals (URI) made into the market gainers list on Mondays trading session with the shares advancing 0.77% or 0.63 points. Due to strong positive momentum, the stock ended at $82.89, which is also near the day’s high of $83.59. The stock began the session at $82.25 and the volume stood at 10,67,152 shares. The 52-week high of the shares is $83.76 and the 52 week low is $41.9. The company has a current market capitalization of $7,142 M and it has 8,61,61,036 shares in outstanding.

United Rentals(URI) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.42B. Analysts had an estimated revenue of $1.40B. Earnings per share were $2.06. Analysts had estimated an EPS of $1.82.

Several Insider Transactions has been reported to the SEC. On Aug 1, 2016, Lawrence Keith Wimbush (director) sold 3,000 shares at $79.04 per share price.Also, 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.

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