Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Sees Large Increase in Short Interest

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

Sunbelt Rentals Holdings, Inc. Common Stock Stock Performance

SUNB traded up $0.54 on Thursday, hitting $73.53. The company had a trading volume of 321,872 shares, compared to its average volume of 4,025,800. The company’s fifty day moving average is $76.81. Sunbelt Rentals Holdings, Inc. Common Stock has a 12-month low of $61.03 and a 12-month high of $86.68. The firm has a market cap of $30.13 billion and a P/E ratio of 99.43.

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

Sunbelt Rentals Holdings, Inc. Common Stock Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SUNB. Sanford C. Bernstein initiated coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Tuesday, May 12th. They set an “outperform” rating and a $86.00 target price for the company. Wall Street Zen upgraded shares of Sunbelt Rentals Holdings, Inc. Common Stock to a “hold” rating in a research note on Saturday, April 18th. Citigroup cut their price objective on Sunbelt Rentals Holdings, Inc. Common Stock to $90.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Weiss Ratings raised Sunbelt Rentals Holdings, Inc. Common Stock from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 7th. Finally, Barclays boosted 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 report on Monday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $81.25.

Insiders Place Their Bets

In related news, COO John Washburn sold 3,351 shares of the company’s stock in a transaction 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 owned 72,394 shares of the company’s stock, valued at approximately $5,067,580. This represents a 4.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Sunbelt Rentals Holdings, Inc. Common Stock Company Profile

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.