AIA's Architecture Billings Index (ABI) Declined 1.7 Points To 48.7, Oppenheimer Reports

In a report released this morning, Oppenheimer said that relevant to its non-residential construction-related stocks under coverage – United Rentals, Inc. (NYSE: URI), RSC Holdings Inc. (NYSE: RRR), McGrath RentCorp (NASDAQ: MGRC), Essex Rental Corporation (NASDAQ: ESSX), Ritchie Bros. (NYSE: RBA), American Reprographics (NYSE: ARP), trades at $7.39 – the AIA's Architecture Billings Index (ABI) declined 1.7 points to 48.7 in October, after September's 50.4 reading (the first above 50 in almost three years). “The ABI is an estimated 9-12 month leading indicator of US construction activity, with 50 representing the growth/decline threshold,” Oppenheimer writes. United Rentals, Inc. currently trades at $19.06; RSC Holdings Inc. trades at $7.74; McGrath RentCorp trades at $27.80; Essex Rental Corporation trades at $5.01; Ritchie Bros. trades at $19.72; American Reprographics trades at $7.39.