NEW YORK (TheStreet) -- There was finally some evidence last week that the market is rewarding some trends in the market. Yes, there are still some opportunities out there for investors in this market and some trends to exploit. Here are a few.
One of the names I have been talking about is United Rentals (URI - Get Report), which is the largest equipment rental company in the world. The company offers approximately 3,100 classes of equipment for rent from back hoes to water pumps. It operates 832 rental locations in the U.S. and Canada.
United Rentals has a great business model benefiting from improvement in the construction cycle. It has about a 13% market share of construction and industrial equipment rentals in North America. Recovering from a sluggish economy, companies are choosing to rent equipment rather than buy, which is helping drive higher rental rates, more rental business, and higher time utilization of rental equipment.
URI data by YCharts
United Rentals broke out to new highs last week.
Data from Best Stocks Now App But the shares continue to trade at a big discount to their expected growth rate with a forward P/E of only 13.