Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Price Target Raised to $79.00

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) had its price objective increased by JPMorgan Chase & Co. from $71.00 to $79.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other research analysts have also recently issued reports on SUNB. KeyCorp raised their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America upped their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the company an “underperform” rating in a research report on Thursday. Citigroup lowered their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Barclays raised their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, June 22nd. Finally, Weiss Ratings lowered shares of Sunbelt Rentals Holdings, Inc. Common Stock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Sunbelt Rentals Holdings, Inc. Common Stock presently has a consensus rating of “Hold” and an average target price of $86.11.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

NYSE SUNB opened at $72.62 on Thursday. The company has a market cap of $29.76 billion and a PE ratio of 98.13. Sunbelt Rentals Holdings, Inc. Common Stock has a 1-year low of $61.03 and a 1-year high of $86.68. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.94 and a quick ratio of 0.83. The company’s fifty day moving average price is $74.70.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.99 by $0.19. The firm had revenue of $3.12 billion during the quarter. Sunbelt Rentals Holdings, Inc. Common Stock’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.22 EPS for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 18th. Sunbelt Rentals Holdings, Inc. Common Stock’s dividend payout ratio is presently 405.41%.

Insider Activity

In other news, COO John Washburn sold 3,351 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $70.00, for a total transaction of $234,570.00. Following the sale, the chief operating officer directly owned 72,394 shares in the company, valued at $5,067,580. This trade represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Councilmark Asset Management LLC increased its stake in Sunbelt Rentals Holdings, Inc. Common Stock by 1.5% in the 2nd quarter. Councilmark Asset Management LLC now owns 10,020 shares of the company’s stock worth $750,000 after buying an additional 150 shares in the last quarter. Legacy Financial Advisors Inc. purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at about $411,000. Live Oak Private Wealth LLC bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $4,088,000. Nykredit A S bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $16,543,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $5,245,000.

About Sunbelt Rentals Holdings, Inc. Common Stock

Sunbelt Rentals Holdings, Inc is an equipment rental company that provides tools, machinery and related services to construction, industrial, commercial, infrastructure, government and residential customers. Its rental fleet includes aerial work platforms, earthmoving and material-handling equipment, general tools, power-generation equipment, pumps, heating and cooling systems, and temporary structures.

The company also provides specialized solutions such as trench safety, climate control, event equipment, traffic management and temporary power.