JPMorgan Chase & Co. Lowers Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Price Target to $71.00

Key Points

• JPMorgan lowered Sunbelt Rentals’ price target from $74 to $71 and maintained an “underweight” rating, implying approximately 6.15% upside from the stock’s $66.88 price.
• Analyst sentiment is mixed: eight analysts rate the stock a Buy, four Hold, and two Sell, resulting in an average “Hold” rating and a consensus price target of $83.67.
• Sunbelt Rentals reported quarterly EPS of $0.74, slightly above the $0.73 consensus estimate, on revenue of $2.75 billion; shares remain below their 50-day moving average of $75.29.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $74.00 to $71.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 6.15% from the stock's current price.

Other equities analysts have also issued research reports about the company. Royal Bank Of Canada upgraded Sunbelt Rentals Holdings, Inc. Common Stock from an "underperform" rating to a "sector perform" rating and set a $80.00 price target for the company in a research report on Friday, June 19th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, June 30th. Sanford C. Bernstein reissued an "outperform" rating and issued a $96.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, July 21st. KeyCorp restated an "overweight" rating and set a $85.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Wednesday, June 24th. Finally, Weiss Ratings upgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Sunbelt Rentals Holdings, Inc. Common Stock currently has an average rating of "Hold" and a consensus price target of $83.67.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Shares of NYSE SUNB traded down $0.19 during trading on Wednesday, hitting $66.88. The company had a trading volume of 2,307,580 shares, compared to its average volume of 3,926,942. The company has a market cap of $27.42 billion and a P/E ratio of 90.87. Sunbelt Rentals Holdings, Inc. Common Stock has a 52 week low of $61.03 and a 52 week high of $86.68. The firm has a 50-day moving average of $75.29. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.83 and a current ratio of 0.90.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last released its quarterly earnings data on Tuesday, June 23rd. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $2.75 billion for the quarter. During the same period in the previous year, the company posted $0.76 earnings per share. On average, research analysts expect that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 EPS for the current year.

Insider Activity

In other Sunbelt Rentals Holdings, Inc. Common Stock news, COO John Washburn sold 3,351 shares of Sunbelt Rentals Holdings, Inc. Common Stock 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 completion of the sale, the chief operating officer owned 72,394 shares of the company's stock, valued at $5,067,580. This trade represents a 4.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Trading of Sunbelt Rentals Holdings, Inc. Common Stock

Institutional investors have recently bought and sold shares of the company. Councilmark Asset Management LLC increased its position 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 purchasing an additional 150 shares during the last quarter. Legacy Financial Advisors Inc. acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter valued at about $411,000. Live Oak Private Wealth LLC bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at approximately $4,088,000. Nykredit A S bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at approximately $16,543,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth approximately $5,245,000.

Sunbelt Rentals Holdings, Inc. Common Stock Company Profile

Sunbelt Rentals Holdings, Inc is a major equipment rental company that provides a broad range of rental solutions to construction, industrial, municipal and specialty markets. The company's business centers on short- and long-term rental of equipment used for earthmoving, aerial access, material handling, power generation, climate control, pumps and general tools, supporting customers who need flexible access to capital-intensive assets without the expense of ownership.

In addition to physical equipment, Sunbelt Rentals offers complementary services designed to keep projects running efficiently.

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