Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Upgraded to Strong-Buy at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Sunbelt Rentals to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $84.00. Other targets range from $85 to $96, alongside several buy, hold and sell ratings.
• Sunbelt shares opened at $83.23, near their 52-week high of $86.68, with a market capitalization of approximately $34.12 billion. The stock trades at a high price-to-earnings ratio of 112.47.
• The company narrowly exceeded quarterly earnings expectations, reporting $0.74 in EPS versus the $0.73 consensus on $2.75 billion in revenue. Analysts expect full-year EPS of approximately $4.18.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Sanford C. Bernstein restated an "outperform" rating and set a $96.00 target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, July 21st. KeyCorp reiterated an "overweight" rating and issued a $85.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Wednesday, June 24th. Weiss Ratings upgraded Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, June 30th. Finally, Citigroup lowered their price objective on 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.00.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Shares of Sunbelt Rentals Holdings, Inc. Common Stock stock opened at $83.23 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.83 and a current ratio of 0.90. The company has a 50-day simple moving average of $76.92. Sunbelt Rentals Holdings, Inc. Common Stock has a 52-week low of $61.03 and a 52-week high of $86.68. The company has a market capitalization of $34.12 billion and a PE ratio of 112.47.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) last released its quarterly earnings results on Tuesday, June 23rd. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $2.75 billion for the quarter. During the same quarter last year, the company posted $0.76 earnings per share. Equities research analysts predict that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 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 the business's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

Institutional Trading of Sunbelt Rentals Holdings, Inc. Common Stock

An institutional investor recently raised its stake in Sunbelt Rentals Holdings, Inc. Common Stock stock. Councilmark Asset Management LLC boosted its position in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Free Report) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,020 shares of the company's stock after acquiring an additional 150 shares during the quarter. Councilmark Asset Management LLC's holdings in Sunbelt Rentals Holdings, Inc. Common Stock were worth $750,000 at the end of the most recent reporting period.

About Sunbelt Rentals Holdings, Inc. Common Stock

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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