Investors Show Optimism in United Rentals Amid Surge in Bullish Options Positions

Investors with a significant amount of capital have recently shown optimism towards United Rentals (NYSE:URI). Today, Benzinga observed a surge in bullish options positions for United Rentals in the publicly available options history that they track. The exact identities of these investors are unknown, whether they are institutions or wealthy individuals. The drastic increase in bullish positions could indicate that there is potential insider knowledge driving this trend, as major options trades for United Rentals are not a common occurrence. Among the 10 options trades spotted by Benzinga’s options scanner, there was a notable split sentiment, with 60% being bullish and 10% bearish. The total amount accounted for $388,770 in calls and $32,820 in puts.

United Rentals holds the title of being the world’s largest equipment rental company. With a significant presence in the United States and Canada, it captures around 15% of the fragmented market. Catering to several sectors like general industrial, commercial construction, and residential construction, the company has steadily expanded its fleet size to $21 billion through organic growth and acquisitions. Apart from traditional equipment, United Rentals now offers specialty items for indefinite rentals, showcasing its diverse product range. Examining the financial outlook, three analysts have set an average price target of $760.0 for United Rentals in the last 30 days. While trading options entails risks, it also presents opportunities for higher returns. Traders can mitigate these risks by staying informed through continuous education and strategic adjustments, making informed decisions based on market dynamics and indicators. Interested parties can keep abreast of real-time options trades for United Rentals on Benzinga Pro for timely alerts.