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

Wells Fargo & Company upgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on SUNB. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $96.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. dropped their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $75.00 to $74.00 and set an “underweight” rating for the company in a research report on Wednesday, June 24th. Barclays upped their target price on Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, June 22nd. Royal Bank Of Canada raised shares of Sunbelt Rentals Holdings, Inc. Common Stock from an “underperform” rating to a “sector perform” rating and set a $80.00 price target on the stock in a research note on Friday, June 19th. Finally, Citigroup cut their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Sunbelt Rentals Holdings, Inc. Common Stock has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

Shares of NYSE:SUNB opened at $83.23 on Monday. The business has a fifty day moving average of $76.92. The company has a market cap of $34.12 billion and a price-to-earnings ratio of 112.47. Sunbelt Rentals Holdings, Inc. Common Stock has a one year low of $61.03 and a one year high of $86.68. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last posted its quarterly earnings data on Tuesday, June 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $2.75 billion for the quarter. During the same period in the prior year, the company earned $0.76 earnings per share. As a group, equities research analysts expect that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 EPS for the current year.

Sunbelt Rentals Holdings, Inc. Common Stock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, July 10th. Sunbelt Rentals Holdings, Inc. Common Stock’s dividend payout ratio (DPR) is 405.41%.

Insiders Place Their Bets

In other Sunbelt Rentals Holdings, Inc. Common Stock news, COO John Washburn sold 3,351 shares of the firm’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 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 trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Sunbelt Rentals Holdings, Inc. Common Stock

A hedge fund recently raised its stake in Sunbelt Rentals Holdings, Inc. Common Stock stock. Councilmark Asset Management LLC raised its stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,020 shares of the company’s stock after buying 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 quarter.

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.