NorthCoast Asset Management LLC Invests $474,000 in Neff Corporation (NEFF)
NorthCoast Asset Management LLC purchased a new position in Neff Corporation (NYSE:NEFF) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 24,931 shares of the industrial products company’s stock, valued at approximately $474,000. NorthCoast Asset Management LLC owned approximately 0.28% of Neff Corporation as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Martingale Asset Management L P lifted its stake in shares of Neff Corporation by 69.9% in the second quarter. Martingale Asset Management L P now owns 68,837 shares of the industrial products company’s stock worth $1,308,000 after acquiring an additional 28,314 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Neff Corporation during the second quarter valued at approximately $1,160,000. JPMorgan Chase & Co. raised its stake in Neff Corporation by 1,270.8% during the second quarter. JPMorgan Chase & Co. now owns 80,875 shares of the industrial products company’s stock valued at $1,537,000 after buying an additional 74,975 shares in the last quarter. Swiss National Bank acquired a new stake in Neff Corporation during the second quarter valued at approximately $268,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Neff Corporation by 47.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 28,553 shares of the industrial products company’s stock valued at $543,000 after buying an additional 9,190 shares in the last quarter. Institutional investors and hedge funds own 91.02% of the company’s stock.
Shares of Neff Corporation (NYSE:NEFF) opened at 24.95 on Tuesday. Neff Corporation has a 52 week low of $8.50 and a 52 week high of $26.45. The firm has a market cap of $221.86 million, a PE ratio of 17.89 and a beta of 3.38. The firm’s 50-day moving average price is $23.28 and its 200 day moving average price is $19.29.
Neff Corporation (NYSE:NEFF) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.16. Neff Corporation had a net margin of 3.26% and a negative return on equity of 9.21%. The company had revenue of $104.10 million during the quarter, compared to the consensus estimate of $104.35 million. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts anticipate that Neff Corporation will post $1.71 EPS for the current year.
Several analysts have issued reports on the company. Wells Fargo & Company restated a “market perform” rating and set a $18.00 price objective (up previously from $8.50) on shares of Neff Corporation in a research note on Tuesday, June 6th. ValuEngine cut Neff Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research cut Neff Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “neutral” rating on shares of Neff Corporation in a research note on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $20.17.
ILLEGAL ACTIVITY NOTICE: “NorthCoast Asset Management LLC Invests $474,000 in Neff Corporation (NEFF)” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.thecerbatgem.com/2017/09/12/northcoast-asset-management-llc-invests-474000-in-neff-corporation-neff.html.
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.
Want to see what other hedge funds are holding NEFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neff Corporation (NYSE:NEFF).
Receive News & Stock Ratings for Neff Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neff Corporation and related stocks with our FREE daily email newsletter.