URI - United Rentals: Take Profits While You Can

2024-04-10 11:53:45 ET

Summary

• United Rentals, Inc. stock has risen over 70% since October as recession fears have diminished.
• However, the stock now seems overvalued based on various valuation measures and insiders made some sales in February and March.
• We take a look at what has driven the recent rally in United Rentals and the potential headwinds investors are overlooking in the paragraphs below.

Today, we take a more in-depth look at equipment leasing concern United Rentals, Inc. ( URI ) . The stock has risen some 70% since its late October as fears of recession have faded. However, it is difficult to see a scenario where the economy meaningfully accelerates in the quarters ahead. In addition, there was a noticeable uptick in insider selling in the first quarter, and some analyst firms are currently negative on the shares. Sign of a top? An analysis follows below....

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