7 Growth Stocks That Are Trading at a Bargain Price

April 4, 2023

in Stocks

Reading Time: 8 mins read

United Rentals (URI)

A hand reaches up on a red ladder pointing to the sky.

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Talk about the debt ceiling and curbing government spending dominating the headlines, and with good reason. The federal budget is a mess. But even if the government commits to no new spending in 2023, there are still federal dollars flowing into the economy. That’s because of the Infrastructure Act and Inflation Reduction Act that passed through the last Congress.

And all that spending is bullish for United Rentals (NYSE:URI) as businesses look to get shovels in the ground. URI stock is up 67% from its 52-week low. But it’s also down 19% from its 52-week high set in early March after a downgrade by an analyst at Baird. The argument is that tighter bank lending will constrict spending on capital projects in the private sector.

That may be true. But with revenue expected to grow in 2023, it’s a good idea to keep your eye on a stock that is trading at just 12x earnings. And the company recently initiated a dividend which may also help lift the spirit – and total return – of investors.