The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. United Rentals, Inc. shares valued at $1,439,811 were sold by PINTOFF CRAIG ADAM on Mar 11 ’24. At $659.25 per share, PINTOFF CRAIG ADAM sold 2,184 shares. The insider’s holdings dropped to 16,652 shares worth approximately $10.59 million following the completion of this transaction.
Also, Gross Joli L. sold 440 shares, netting a total of over 298,144 in proceeds. Following the sale of shares at $677.60 each, the insider now holds 4,543 shares.
Before that, Grace William E. had sold 775 shares from its account. In a trade valued at $508,104, the EVP, CFO traded United Rentals, Inc. shares for $655.62 each. Upon closing the transaction, the insider’s holdings decreased to 775 shares, worth approximately $4.02 million.
As published in their initiating research note from Truist on March 14, 2024, United Rentals, Inc. [URI] has been a Buy and the price target has been revised to $793. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in early January. As of January 05, 2024, Exane BNP Paribas has decreased its “an Outperform” rating to a “an Underperform” for URI. Earlier on December 05, 2023, UBS downgraded its rating. Their new recommendation was “a Neutral” for URI stock which previously was a “a Buy”.
Analyzing URI Stock Performance
During the last five days, there has been a drop of approximately -6.73%. Over the course of the year, United Rentals, Inc. shares have jumped approximately 10.95%. Shares of the company reached a 52-week high of $732.37 on 03/04/24 and a 52-week low of $533.70 on 01/08/24. A 50-day SMA is recorded $679.28, while a 200-day SMA reached $533.03. Nevertheless, trading volume fell to 0.89 million shares from 0.59 million shares the previous day.
Support And Resistance Levels for United Rentals, Inc. (URI)
According to the 24-hour chart, there is a support level at 626.17, which, if violated, would cause prices to drop to 616.13. In the upper region, resistance lies at 652.30. The next price resistance is at 668.39. RSI (Relative Strength Index) is 32.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -34.96, which suggests the price will decrease in the coming days. Percent R is at 95.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
