Upgraded Stocks: United Rentals (NYSE:URI)
United Rentals (NYSE:URI) is in a pretty basic business. URI rents construction and industrial equipment to construction companies, municipalities and other customers. Of course, that equipment includes things such as backhoes, forklifts, earth-moving equipment and portable generators, so … it’s not exactly the most exciting business in the world.
However, the results make URI stock one of the most exciting equities of the current earnings season. United Rentals beat estimates by more than 26% as it posted yet another consecutive positive earnings surprise.
CEO Michael Kneeland expressed confidence that the good times will continue. He told shareholders “We now see solid demand in almost every market, giving us further confidence in our full year outlook.”
Portfolio Grader likes what it see as well and this week upgraded URI stock to an “A,” signaling that URI stock has earned a “strong buy” recommendation.