General Finance Corporation (GFN) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of General Finance Corporation (NASDAQ:GFN) from a hold rating to a sell rating in a research note published on Friday.
According to Zacks, “General Finance Corporation provides mobile storage, liquid containment and modular space solutions. General Finance Corporation is headquartered in Pasadena, California. “
Several other research analysts have also issued reports on the company. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of General Finance Corporation in a research report on Wednesday. TheStreet raised General Finance Corporation from a d rating to a c- rating in a research report on Wednesday, September 6th. Finally, ValuEngine raised General Finance Corporation from a sell rating to a hold rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. General Finance Corporation currently has an average rating of Hold and a consensus target price of $7.60.
General Finance Corporation (NASDAQ:GFN) remained flat at $5.05 during midday trading on Friday. 24,146 shares of the stock were exchanged. The company has a 50-day moving average of $4.85 and a 200-day moving average of $4.95. The company’s market cap is $134.39 million. General Finance Corporation has a 1-year low of $4.00 and a 1-year high of $5.90.
General Finance Corporation (NASDAQ:GFN) last released its quarterly earnings data on Wednesday, September 6th. The business services provider reported ($0.07) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). General Finance Corporation had a negative return on equity of 1.37% and a negative net margin of 0.90%. The company had revenue of $73.34 million for the quarter, compared to the consensus estimate of $70.95 million. On average, equities research analysts predict that General Finance Corporation will post ($0.15) earnings per share for the current fiscal year.
In other General Finance Corporation news, CEO Ronald Valenta acquired 11,200 shares of the stock in a transaction dated Tuesday, September 19th. The stock was purchased at an average cost of $4.94 per share, with a total value of $55,328.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Neil Gagnon sold 24,832 shares of General Finance Corporation stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $5.03, for a total value of $124,904.96. Following the completion of the transaction, the insider now directly owns 963,102 shares of the company’s stock, valued at $4,844,403.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 39,902 shares of company stock valued at $201,274. 25.80% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its position in shares of General Finance Corporation by 6.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 31,300 shares of the business services provider’s stock worth $161,000 after acquiring an additional 1,900 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of General Finance Corporation in the 2nd quarter worth about $134,000. Gagnon Securities LLC bought a new position in shares of General Finance Corporation in the 2nd quarter worth about $10,892,000. Finally, Renaissance Technologies LLC raised its position in shares of General Finance Corporation by 25.4% in the 1st quarter. Renaissance Technologies LLC now owns 35,972 shares of the business services provider’s stock worth $183,000 after acquiring an additional 7,276 shares in the last quarter. 19.11% of the stock is owned by hedge funds and other institutional investors.
About General Finance Corporation
General Finance Corporation is a specialty rental services company. The Company offers a range of portable storage units, including its core 20-feet and 40-feet steel containers, office container, mobile office and modular space products and steel tanks. It has two geographic areas that include its four operating segments: the Asia-Pacific area, consisting of the leasing operations of Royal Wolf Holdings Limited and its Australian and New Zealand subsidiaries (Royal Wolf), and North America, consisting of the combined leasing operations of Pac-Van, Inc and its Canadian subsidiary, PV Acquisition Corp.
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