United Rentals Blasted For Second Consecutive Day - United Rentals (NYSE:URI)

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.United Rentals, Inc.URI

shares are trading lower by $2.30 at $64.08 in Friday's session. United Rentals fell from $77.63 to $66.98 on Thursday when the Street received its Q1 report, even though they posted a solid EPS beat ($1.95 versus estimated $1.74). Instead, the Street focused on its sales miss ($1.43 billion versus estimated $1.45 billion).

Analysts' Take

Before Friday's open, RBC Capital added selling pressure to the battered issue when it downgraded the issue from Top-Pick Outperform and lowered its price target from $110 to $94. In addition, Wells Fargo downgraded the issue from Outperform to Market Perform.

After a slightly lower open, it was unable to reclaim Thursday's closing price ($66.98), peaking at $66.75 before swooning all the way the $62.46 before rebounding above $64. That marks the lowest level for the issue since it bottomed at $62.01 in November 2013.

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