Mick McGuire the founder and managing partner of Marcato Capital Management presented at the Value Investing Congress today and gave a presentation on why he thinks United Rentals (URI) is undervalued. His thesis basically boils down to a couple key points:
1. Cyclical trends are positive
2. Favorable capital structure
3. Only scaled player in the industry
4. Attractive valuation
He thinks that URI is worth $96.34 per share versus its recent price of $56 or an increase of 72%.