General Finance Corp downgraded to Neutral from Buy at DA Davidson » 08:0705/0605/06/21
DA Davidson analyst Brent…
DA Davidson analyst Brent Thelman downgraded General Finance Corp (GFN) to Neutral from Buy with a price target of $19, up from $16 after its Q3 results. The analyst notes that fleet utilization was up to 79% from 75% while the company's pending acquisition by United Rentals (URI) is proceeding on track and set to close in Q2.
|Over a week ago|
United Rentals price target raised to $360 from $280 at Argus » 07:4405/0405/04/21
Argus analyst John Eade…
Argus analyst John Eade raised the firm's price target on United Rentals to $360 from $280 and keeps a Buy rating on the shares. The analyst cites the company's Q1 earnings beat and management commentary regarding volume trends "steadily improving" over the past three months. Eade adds further notes that United Rentals sees "virtually all indicators" suggest that these trends will continue.
United Rentals price target raised to $368 from $350 at Baird » 19:2404/2904/29/21
Baird analyst Mircea…
Baird analyst Mircea Dobre raised the firm's price target on United Rentals to $368 from $350 and keeps an Outperform rating on the shares. Dobre said that the company's ability to deploy capital at this point in the cycle is an important differentiator in driving growth, particularly when looking towards 2022. The analyst added that equipment suppliers are actively working on increasing output, yet his sense is that capacity will likely be tighter for longer, thus having the ability to secure equipment could result in both share gains and higher penetration for United Rentals.
United Rentals raises FY21 revenue view to $9.05B-$9.45B from $8.625B-$9.025B » 16:4404/2804/28/21
Consensus $8.88B. Raises…
Consensus $8.88B. Raises FY21 adjusted EBITDA view to $4.1B-$4.3B from $3.925B-$4.125B.
United Rentals reports Q1 EPS $3.45, consensus $3.07 » 16:4304/2804/28/21
Reports Q1 revenue…
Reports Q1 revenue $2.06B, consensus $2.0B. The company states : " Fleet productivity decreased 0.5% year-over-year; fleet productivity improved sequentially by 330 basis points, primarily due to better fleet absorption." CEO Matthew Flannery, said, "We were very pleased with our first quarter results and the strong start to our year, as our key end-markets continue to rebound from the challenges of 2020. Sentiment among our customers continues to improve, and we are well prepared to support them as we enter the busiest part of our season. The recovery that we've seen since the middle of last year remains evident across our business, and virtually all indicators point to these trends continuing. As such, we are raising our full-year guidance to reflect our expectations for stronger growth in our core rental business and increased used equipment sales. Most importantly, we are leveraging our significant competitive advantages to add value for both our customers and our investors."
United Rentals to host conference call » 08:2604/1604/16/21
Conference call to…
Conference call to discuss the acquisition of General Finance Corporation will be held on April 16 at 8:30 am.
United Rentals to acquire General Finance Corp for $19 per share in $996M deal » 20:3104/1504/15/21
United Rentals (URI) and…
United Rentals (URI) and General Finance (GFN) announced their entry into a definitive agreement under which United Rentals will acquire General Finance for $19 per share in cash, representing a total enterprise value of approximately $996M, including the assumption of $400M of net debt. The transaction is expected to be accretive to EPS and free cash flow upon close. The boards of directors of United Rentals and General Finance unanimously approved the transaction, which is subject to customary closing conditions, including the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other regulatory approvals. United Rentals intends to commence a tender offer by April 26, 2021, to acquire all of the outstanding shares of GFN common stock for $19 per share in cash. Following completion of the tender offer, a wholly-owned subsidiary of United Rentals will merge with and into General Finance and shares of General Finance common stock that have not been tendered and purchased in the tender offer will be converted into the right to receive $19 per share in cash. The transaction is expected to close in the second quarter of 2021. The company plans to update its 2021 financial outlook to reflect the combined operations following the completion of the transaction.
United Rentals acquires Franklin Equipment » 16:3204/1404/14/21
United Rentals has…
United Rentals has acquired Franklin Equipment, a regional provider of equipment rentals, sales and related services in the Midwest and Southeast United States. Franklin Equipment was founded in 2008, and grew to 20 locations serving general contractors in Ohio, Indiana, Wisconsin, Kentucky, Tennessee, Alabama, Georgia and South Carolina.
United Rentals price target raised to $348 from $280 at Deutsche Bank » 06:4904/1304/13/21
Deutsche Bank analyst…
Deutsche Bank analyst Nicole DeBlase raised the firm's price target on United Rentals to $348 from $280 and keeps a Hold rating on the shares. The analyst expects earnings beats to continue this quarter for the multi-industry group, but she expects the beats to "look less extreme." Further, the Q1 results are backward-looking, and companies may opt to leave rest-of-year guidance unchanged, given growing risk of supply chain constraints and "price/cost margin pinch as the recovery marches on," Deblase tells investors in a research note.
|Over a month ago|
United Rentals price target raised to $370 from $355 at KeyBanc » 07:4403/2503/25/21
KeyBanc analyst Ken…
KeyBanc analyst Ken Newman raised the firm's price target on United Rentals to $370 from $355 and keeps an Overweight rating on the shares after hosting a virtual NDR with the company. The analyst notes that United Rentals conveyed an optimistic tone for 2021 demand, supported by improving customer activity and rental fleet metrics. While starts remain relatively weak, Newman thinks improvements in forward-looking metrics and easy comps should support an inflection in Q2. Additionally, he believes challenges stemming from higher input costs and supply chain tightness could be minimal for United Rentals given its substantial buying power over its suppliers. Lastly, Newman sees M&A or infrastructure stimulus providing potential upside to estimates.