ValuEngine Lowers Neff Corporation (NEFF) to Buy
ValuEngine cut shares of Neff Corporation (NYSE:NEFF) from a strong-buy rating to a buy rating in a report issued on Friday morning.
NEFF has been the subject of a number of other research reports. Wells Fargo & Company reiterated a market perform rating and issued a $18.00 price objective (up previously from $8.50) on shares of Neff Corporation in a research report on Tuesday, June 6th. Piper Jaffray Companies reiterated an overweight rating and issued a $23.00 price objective (up previously from $21.00) on shares of Neff Corporation in a research report on Wednesday, April 19th. Jefferies Group LLC reiterated a neutral rating on shares of Neff Corporation in a research report on Thursday. Zacks Investment Research upgraded Neff Corporation from a hold rating to a buy rating and set a $20.00 price objective for the company in a research report on Wednesday, June 28th. Finally, Morgan Stanley raised their price objective on Neff Corporation from $16.00 to $20.00 and gave the stock an equal weight rating in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Neff Corporation has a consensus rating of Hold and a consensus price target of $20.17.
Shares of Neff Corporation (NYSE NEFF) traded down 0.118% during midday trading on Friday, hitting $21.075. The stock had a trading volume of 4,094 shares. The firm has a 50-day moving average of $19.16 and a 200 day moving average of $17.62. The firm has a market cap of $187.55 million, a PE ratio of 15.118 and a beta of 3.41. Neff Corporation has a 12-month low of $8.05 and a 12-month high of $21.30.
Neff Corporation (NYSE:NEFF) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.16. Neff Corporation had a negative return on equity of 8.81% and a net margin of 3.26%. The firm had revenue of $104.10 million during the quarter, compared to the consensus estimate of $104.35 million. During the same quarter in the prior year, the business posted $0.31 EPS. Neff Corporation’s revenue was up 4.4% compared to the same quarter last year. On average, analysts expect that Neff Corporation will post $1.71 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Neff Corporation by 7.7% in the first quarter. Vanguard Group Inc. now owns 387,886 shares of the industrial products company’s stock worth $7,545,000 after buying an additional 27,630 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Neff Corporation by 116.8% in the first quarter. Renaissance Technologies LLC now owns 218,300 shares of the industrial products company’s stock worth $4,246,000 after buying an additional 117,600 shares during the last quarter. ClariVest Asset Management LLC bought a new position in shares of Neff Corporation during the second quarter worth about $2,758,000. State Street Corp boosted its position in shares of Neff Corporation by 9.8% in the fourth quarter. State Street Corp now owns 141,751 shares of the industrial products company’s stock worth $1,999,000 after buying an additional 12,671 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Neff Corporation by 42.0% in the first quarter. Dimensional Fund Advisors LP now owns 121,826 shares of the industrial products company’s stock worth $2,370,000 after buying an additional 36,030 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.
About Neff Corporation
Neff Corporation is an equipment rental company. The Company offers an array of equipment rental solutions for its customer base, including infrastructure, non-residential construction, oil and gas, and residential construction customers. Its fleet of equipment includes earthmoving, material handling, aerial and other rental equipment.
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