• Return to Headlines

Upgrade Alert for United Rentals (URI)

By James Quinn

United Rentals (NYSE:URI) was upgraded from Underperform to Neutral at BofA/Merrill today. The stock closed yesterday at $80.78 on volume of 1.8 million shares, below average daily volume of 2.1 million.

United Rentals, Inc., through its subsidiary, is an equipment rental company operating a network of locations in the United States, Canada, and Mexico. The Company serves the construction industry, industrial and commercial concerns, homeowners, and other individuals.

In the past 52 weeks, United Rentals share prices have been bracketed by a low of $41.90 and a high of $105.83 and closed yesterday at $80.81, 93% above that low price. The 200-day and 50-day moving averages have moved 0.53% lower and 1.77% higher over the past week, respectively.

There is potential upside of 4.1% for shares of United Rentals based on a current price of $80.81 and an average consensus analyst price target of $84.13. United Rentals shares have support at the 200-day moving average (MA) of $64.37 and additional support at the 50-day MA of $60.66.

SmarTrend recommended that subscribers consider buying shares of United Rentals on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.89. Since that recommendation, shares of United Rentals have risen 11.1%. We continue to monitor URI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades united rentals

Ticker(s): URI