Neff Corp. (NEFF) Downgraded to “Hold” at Jefferies Group
Jefferies Group downgraded shares of Neff Corp. (NYSE:NEFF) from a buy rating to a hold rating in a research report report published on Tuesday morning. Jefferies Group currently has $14.00 price target on the stock, up from their previous price target of $12.00.
Separately, Zacks Investment Research raised Neff Corp. from a hold rating to a buy rating and set a $11.00 price target on the stock in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $9.15.
Shares of Neff Corp. (NYSE:NEFF) opened at 13.40 on Tuesday. The firm has a market cap of $119.41 million, a P/E ratio of 14.77 and a beta of 3.22. The stock’s 50 day moving average price is $10.13 and its 200-day moving average price is $9.72. Neff Corp. has a 12-month low of $3.62 and a 12-month high of $13.87.
Neff Corp. (NYSE:NEFF) last released its quarterly 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. Neff Corp. had a net margin of 2.32% and a negative return on equity of 8.08%. The business earned $105.50 million during the quarter, compared to analysts’ expectations of $102.24 million. During the same period in the previous year, the business earned $0.51 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Neff Corp. will post $1.41 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB acquired a new position in Neff Corp. during the second quarter valued at $396,000. ClariVest Asset Management LLC acquired a new position in Neff Corp. during the second quarter valued at $395,000. Bank of New York Mellon Corp boosted its position in 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. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in Neff Corp. during the second quarter valued at $447,000. Finally, EAM Investors LLC acquired a new position in Neff Corp. during the second quarter valued at $1,332,000. 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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