Jefferies Group Downgrades Neff Corp. (NEFF) to Hold
Neff Corp. (NYSE:NEFF) was downgraded by investment analysts at Jefferies Group from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, The Fly reports.
Separately, Zacks Investment Research upgraded shares of Neff Corp. from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.65.
Shares of Neff Corp. (NYSE:NEFF) opened at 13.55 on Tuesday. The firm has a market capitalization of $120.74 million, a P/E ratio of 14.94 and a beta of 3.22. The firm has a 50-day moving average of $10.13 and a 200 day moving average of $9.72. Neff Corp. has a 52 week low of $3.62 and a 52 week high of $13.87.
Neff Corp. (NYSE:NEFF) last posted its earnings results on Tuesday, October 25th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.01. The firm earned $105.50 million during the quarter, compared to analyst estimates of $102.24 million. Neff Corp. had a net margin of 2.32% and a negative return on equity of 8.08%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, equities research analysts expect that Neff Corp. will post $1.41 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Neff Corp. by 3.2% in the third quarter. BlackRock Inc. now owns 11,463 shares of the company’s stock valued at $109,000 after buying an additional 359 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Neff Corp. by 15.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,500 shares of the company’s stock valued at $119,000 after buying an additional 1,700 shares in the last quarter. Rhumbline Advisers raised its position in shares of Neff Corp. by 1.5% in the third quarter. Rhumbline Advisers now owns 13,486 shares of the company’s stock valued at $128,000 after buying an additional 200 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Neff Corp. by 292.9% in the third quarter. Acrospire Investment Management LLC now owns 16,815 shares of the company’s stock valued at $160,000 after buying an additional 12,535 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Neff Corp. by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 29,200 shares of the company’s stock valued at $319,000 after buying an additional 926 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.
About Neff Corp.
Neff Corporation is an equipment rental company. The Company offers various equipment rental solutions for its customer base, including non-residential construction, oil and gas, and residential construction customers. The Company’s fleet of equipment includes earthmoving, material handling, aerial and other rental equipment.
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