Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Price Target Lowered to $71.00 at JPMorgan Chase & Co.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $74.00 to $71.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.15% from the company’s current price.

Several other equities research analysts have also weighed in on SUNB. Wells Fargo & Company began coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, August 17th. They issued an “overweight” rating and a $96.00 target price for the company. Weiss Ratings upgraded Sunbelt Rentals Holdings, Inc. Common Stock from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, June 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $96.00 price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, July 21st. Finally, Barclays raised their target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, June 22nd. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.67.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

Shares of SUNB stock traded down $0.19 on Wednesday, hitting $66.88. The company’s stock had a trading volume of 2,307,580 shares, compared to its average volume of 3,926,942. The firm has a market cap of $27.42 billion and a PE ratio of 90.87. Sunbelt Rentals Holdings, Inc. Common Stock has a fifty-two week low of $61.03 and a fifty-two week high of $86.68. The firm’s fifty day moving average price is $75.29. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.83.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) last posted its earnings results on Tuesday, June 23rd. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $2.75 billion for the quarter. During the same quarter in the prior year, the business posted $0.76 EPS. Analysts predict that Sunbelt Rentals Holdings, Inc. Common Stock will post 4.18 EPS 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 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. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Sunbelt Rentals Holdings, Inc. Common Stock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Councilmark Asset Management LLC raised its holdings in Sunbelt Rentals Holdings, Inc. Common Stock by 1.5% in the 2nd quarter. Councilmark Asset Management LLC now owns 10,020 shares of the company’s stock valued at $750,000 after acquiring an additional 150 shares in the last quarter. Legacy Financial Advisors Inc. acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth approximately $411,000. Live Oak Private Wealth LLC acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the 2nd quarter worth approximately $4,088,000. Nykredit A S bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $16,543,000. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock during the second quarter valued at approximately $5,245,000.

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.