Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Stock Has Average Price Target of $87.33

Key Points

• Analysts have a consensus “Hold” rating on Sunbelt Rentals, with eight buys, five holds and two sells; the average 12-month price target is $87.33.
• The company reported quarterly EPS of $1.18, exceeding estimates of $0.99, while revenue rose 11.2% year over year to $3.12 billion.
• Sunbelt declared a quarterly dividend of $0.30, representing a 1.6% yield, but this was reduced from the previous $0.75 quarterly payout.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) has been given a consensus recommendation of "Hold" by the fifteen ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $87.33.

A number of brokerages recently weighed in on SUNB. Weiss Ratings downgraded Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "hold (c+)" rating in a research report on Monday. Bank of America boosted their target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $62.00 to $71.00 and gave the stock an "underperform" rating in a report on Thursday, September 10th. KeyCorp increased their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, September 10th. Morgan Stanley restated an "overweight" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, September 21st. Finally, The Goldman Sachs Group raised shares of Sunbelt Rentals Holdings, Inc. Common Stock from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $78.00 to $93.00 in a research report on Wednesday, September 16th.

Insider Transactions at Sunbelt Rentals Holdings, Inc. Common Stock

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 value of $234,570.00. Following the transaction, the chief operating officer directly owned 72,394 shares of the company's stock, valued at approximately $5,067,580. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Institutional Trading of Sunbelt Rentals Holdings, Inc. Common Stock

A number of institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. purchased a new position in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth $685,000. Envestnet Asset Management Inc. purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at about $26,298,000. Andra AP fonden purchased a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at about $6,052,000. State Street Corp acquired a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter worth about $440,999,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter worth about $11,553,000.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Up 3.1%

Sunbelt Rentals Holdings, Inc. Common Stock stock opened at $75.46 on Friday. The business has a fifty day moving average of $74.92 and a two-hundred day moving average of $74.09. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.08. The firm has a market cap of $30.92 billion and a P/E ratio of 39.30. Sunbelt Rentals Holdings, Inc. Common Stock has a twelve month low of $61.03 and a twelve month high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.19. The company had revenue of $3.12 billion during the quarter. The company's quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 earnings per share for the current fiscal year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.6%. This is a negative change from Sunbelt Rentals Holdings, Inc. Common Stock's previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 18th. Sunbelt Rentals Holdings, Inc. Common Stock's payout ratio is 62.50%.

About Sunbelt Rentals Holdings, Inc. Common Stock

Sunbelt Rentals Holdings, Inc is an equipment rental company operating under the Sunbelt Rentals brand. It provides rental equipment and related services to construction, industrial, commercial, infrastructure, government, entertainment and residential customers.

The company's rental fleet includes aerial work platforms, earthmoving and material-handling equipment, general construction tools, power-generation systems, climate-control equipment, pumps, trucks and trailers. Sunbelt Rentals also provides specialty services such as temporary power, heating and cooling, site support, fluid management and equipment delivery.

Sunbelt Rentals serves customers across the United States, Canada and the United Kingdom through a network of rental locations and service operations.

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