Short Interest in Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Grows By 134.1%

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 11,824,713 shares, a growth of 134.1% from the June 15th total of 5,051,563 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 8,858,037 shares, the days-to-cover ratio is currently 1.3 days.

Analysts Set New Price Targets

SUNB has been the subject of a number of analyst reports. Sanford C. Bernstein began coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, May 12th. They set an “outperform” rating and a $86.00 price objective for the company. Wall Street Zen raised shares of Sunbelt Rentals Holdings, Inc. Common Stock to a “hold” rating in a report on Saturday, April 18th. JPMorgan Chase & Co. cut their price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $75.00 to $74.00 and set an “underweight” rating on the stock in a report on Wednesday, June 24th. KeyCorp reiterated an “overweight” rating and set a $85.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Wednesday, June 24th. Finally, Zacks Research upgraded Sunbelt Rentals Holdings, Inc. Common Stock to a “hold” rating in a research report on Monday, March 30th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.25.

Insider Buying and Selling

In related news, COO John Washburn sold 3,351 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $70.00, for a total value of $234,570.00. Following the completion of the sale, the chief operating officer owned 72,394 shares in the company, valued at approximately $5,067,580. The trade was 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 the SEC website.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

SUNB traded up $0.55 on Wednesday, reaching $72.97. The company had a trading volume of 1,369,626 shares, compared to its average volume of 4,065,939. The stock’s 50-day simple moving average is $76.81. The company has a market cap of $29.90 billion and a PE ratio of 98.61. Sunbelt Rentals Holdings, Inc. Common Stock has a 1 year low of $61.03 and a 1 year high of $86.68.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last announced its earnings results on Tuesday, June 23rd. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $2.75 billion during the quarter. During the same quarter last year, the firm earned $0.76 earnings per share.

Sunbelt Rentals Holdings, Inc. Common Stock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, July 10th. Sunbelt Rentals Holdings, Inc. Common Stock’s dividend payout ratio is 405.41%.

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.