Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Stock Has Consensus Target Price of $87.33 According to Brokerages

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) has received an average recommendation of “Hold” from the fifteen research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $87.33.

A number of analysts have recently commented on SUNB shares. Citigroup dropped 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. Wells Fargo & Company began coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, August 17th. They set an “overweight” rating and a $96.00 price objective for the company. Weiss Ratings cut Sunbelt Rentals Holdings, Inc. Common Stock from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, September 28th. Morgan Stanley reissued an “overweight” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, September 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, June 30th.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

Shares of SUNB stock opened at $77.03 on Friday. The firm has a market capitalization of $31.57 billion and a price-to-earnings ratio of 40.12. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.94 and a quick ratio of 0.87. Sunbelt Rentals Holdings, Inc. Common Stock has a 12-month low of $61.03 and a 12-month high of $86.68. The business has a 50 day simple moving average of $74.95 and a 200 day simple moving average of $74.12.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.19. The company had revenue of $3.12 billion for the quarter. The company’s revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts anticipate that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.21 EPS for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. This is a decrease from Sunbelt Rentals Holdings, Inc. Common Stock’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, September 18th. Sunbelt Rentals Holdings, Inc. Common Stock’s payout ratio is presently 62.50%.

Insider Activity

In other news, COO John Washburn sold 3,351 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer owned 72,394 shares of the company’s stock, valued at approximately $5,067,580. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SUNB. State Street Corp acquired a new position in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at $440,999,000. Broad Run Investment Management LLC bought a new position in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at $51,353,000. Anchor Capital Advisors LLC bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth about $44,923,000. Envestnet Asset Management Inc. bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $26,298,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at $22,082,000.

Sunbelt Rentals Holdings, Inc. Common Stock Company Profile

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.