Equipment rental company United Rentals Inc. has acquired Franklin Equipment LLC. The latter provides equipment rentals, sales and associated services in the Midwest and Southeast United States.
United Rentals (URI) President and Chief Executive Officer, Matthew Flannery said, “Today, we welcomed over 300 new members to Team United with our acquisition of Franklin Equipment. This transaction expands our presence in key markets for our general rentals business, with an experienced team that shares our pride in delivering superior customer service.”
United Rentals has a total of 1154 rental locations in North America and 11 in Europe. Franklin Equipment currently has 20 locations catering to general contractors. (See United Rentals stock analysis on TipRanks)
On April 13, Deutsche Bank analyst Nicole Deblase reiterated a Hold rating on the stock and increased its price target to $348 (7.1% upside potential) from $280.
Commenting on the industry group as a whole, Deblase sees earnings outperformance continuing this quarter but expects them to be less extreme.
Overall, consensus on the Street is that United Rentals is a Moderate Buy based on 6 Buys, 4 Holds, and 2 Sells and has an average analyst price target of $324.64. This suggests that shares a fully priced at current levels. URI has gained about 199.2% over the past year.
Related News:
SAP Posts Fastest Cloud Business Growth In Five Years During 1Q, Raises Outlook
Public Storage Snaps Up ezStorage For $1.8B
Gilead’s Bladder Cancer Drug Trodelvy Gets FDA Nod
