United Rentals (URI Quick QuoteURI - Free Report) shares soared 3.6% in the last trading session to close at $344.89. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.1% loss over the past four weeks.

United Rentals has been riding high on higher rental revenues, fleet productivity and absorptions. The company has raised 2021 guidance, which exhibits broad-based growth across its verticals, with persistent growth opportunities for certain non-residential verticals including datacenter, healthcare and warehouse projects.

This equipment rental company is expected to post quarterly earnings of $6.97 per share in its upcoming report, which represents a year-over-year change of +38.3%. Revenues are expected to be $2.77 billion, up 21.4% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For United Rentals, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on URI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>