Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Price Target Cut to $62.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on Sunbelt Rentals (NYSE:SUNB) to $62.00 (from $62.38) and maintained an Underperform rating, implying roughly an 8.9% downside from the current price.
• Analyst coverage is mixed — MarketBeat lists 1 Strong Buy, 4 Buy, 3 Hold and 2 Sell, yielding a consensus rating of Hold and an average target price of $73.20.
• SUNB opened at $68.07, is trading down about 0.6% on the day, and has a 52-week range of $62.44–$76.77.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) had its price target dropped by investment analysts at Royal Bank Of Canada from $62.38 to $62.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential downside of 8.91% from the company's current price.

Other research analysts have also recently issued reports about the company. Weiss Ratings cut Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "hold (c)" rating in a research note on Thursday, March 19th. The Goldman Sachs Group assumed coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, March 10th. They issued a "buy" rating and a $83.00 price objective for the company. KeyCorp upgraded Sunbelt Rentals Holdings, Inc. Common Stock to a "strong-buy" rating in a report on Friday, March 13th. BNP Paribas Exane assumed coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday, March 9th. They set an "outperform" rating on the stock. Finally, Bank of America assumed coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, March 16th. They set an "underperform" rating and a $62.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $73.20.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Down 0.6%

NYSE:SUNB opened at $68.07 on Thursday. Sunbelt Rentals Holdings, Inc. Common Stock has a fifty-two week low of $62.44 and a fifty-two week high of $76.77.

Sunbelt Rentals Holdings, Inc NYSE: SUNB is a North American equipment rental company that supplies a broad range of temporary equipment, tools and services to commercial contractors, industrial customers, municipalities and specialty markets. The company rents equipment used in construction, infrastructure, industrial maintenance, utilities, events and emergency response, providing flexible short- and long-term solutions that allow customers to scale capacity without large capital expenditures.

Sunbelt's product offering spans general construction and earthmoving equipment, aerial work platforms and lifts, material handling, power generation and HVAC, industrial pumps and compressors, trench safety and shoring systems, temporary lighting, and specialized tools for oil & gas and other sectors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.