Yahoo Finance Here's Why United Rentals (URI) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
United Rentals (URI)
Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world, with an integrated network of 1,600 rental locations in the United States, Canada, Europe, Australia and New Zealand. Moreover, it operates in 49 U.S. states and every Canadian province. The company offers 4,800 classes of equipment for rent at a total original equipment cost (“OEC”) of $20.6 billion (as of Mar 31, 2024). Equipment rentals represented 84% of total revenues in 2023.
URI boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of United Rentals has seen some interesting price action recently; the stock is down 1.2% over the past one week and up 7.6% over the past four weeks. And in the last one-year period, URI has gained 97.6%. As for the stock's trading volume, 544,108.94 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, six analysts revised their earnings estimate higher in the last 60 days for URI, while the Zacks Consensus Estimate has increased $0.79 to $43.71 per share. URI also boasts an average earnings surprise of 6%.
URI should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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United Rentals, Inc. (URI) : Free Stock Analysis Report
