Sunbelt Rentals Holdings, Inc. Common Stock's (SUNB) "Sector Perform" Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its “Sector Perform” rating on Sunbelt Rentals (SUNB) and set an $80 price target, implying approximately 6.16% upside from the previous close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $87.33; recent targets range from $79 to $93.
• Sunbelt reported quarterly EPS of $1.18, exceeding the $0.99 consensus estimate, while revenue rose 11.2% year over year to $3.12 billion.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report)'s stock had its "sector perform" rating restated by equities researchers at Royal Bank Of Canada in a note issued to investors on Thursday, Benzinga reports. They presently have a $80.00 price objective on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 6.16% from the company's previous close.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Sunbelt Rentals Holdings, Inc. Common Stock from $71.00 to $79.00 and gave the stock an "underweight" rating in a research note on Thursday, September 10th. The Goldman Sachs Group upgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock from a "neutral" rating to a "buy" rating and raised their target price for the company from $78.00 to $93.00 in a research note on Wednesday. Citigroup cut their price objective on Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Barclays increased their price objective on Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, June 30th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Sunbelt Rentals Holdings, Inc. Common Stock has a consensus rating of "Hold" and an average price target of $87.33.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Up 4.2%

Shares of NYSE SUNB opened at $75.36 on Thursday. The company has a market capitalization of $30.88 billion and a PE ratio of 101.91. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08. The company's 50-day moving average is $74.78. Sunbelt Rentals Holdings, Inc. Common Stock has a fifty-two week low of $61.03 and a fifty-two week high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.99 by $0.19. The business had revenue of $3.12 billion during the quarter. The company's revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.22 earnings per share for the current fiscal year.

Insider Activity at Sunbelt Rentals Holdings, Inc. Common Stock

In other news, COO John Washburn sold 3,351 shares of Sunbelt Rentals Holdings, Inc. Common Stock stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $70.00, for a total value of $234,570.00. Following the completion of the transaction, the chief operating officer owned 72,394 shares in the company, valued at approximately $5,067,580. The trade was a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Sunbelt Rentals Holdings, Inc. Common Stock

Large investors have recently made changes to their positions in the company. Broad Run Investment Management LLC bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth approximately $51,353,000. Anchor Capital Advisors LLC purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $44,923,000. Allianz Asset Management GmbH purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth $22,082,000. Giverny Capital Inc. purchased a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter worth approximately $18,431,000. Finally, Nykredit A S acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth $16,543,000.

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.

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