Neff Corporation (NYSE:NEFF) shares hit a new 52-week high during trading on Friday . The company traded as high as $21.75 and last traded at $21.60, with a volume of 514,416 shares changing hands. The stock had previously closed at $21.15.
A number of research analysts have recently commented on NEFF shares. Zacks Investment Research lowered Neff Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. ValuEngine raised Neff Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Jefferies Group LLC increased their price objective on Neff Corporation from $14.00 to $20.00 and gave the company a “hold” rating in a report on Monday, May 1st. Morgan Stanley increased their price objective on Neff Corporation from $16.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, April 28th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Neff Corporation in a report on Wednesday, April 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.17.
The stock’s 50 day moving average price is $20.09 and its 200-day moving average price is $17.95. The firm has a market cap of $194.29 million, a PE ratio of 15.66 and a beta of 3.41.
Neff Corporation (NYSE:NEFF) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.16. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $104.35 million. Neff Corporation had a negative return on equity of 9.21% and a net margin of 3.26%. Neff Corporation’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. On average, equities research analysts forecast that Neff Corporation will post $1.71 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Neff Corporation by 52.8% in the second quarter. Dimensional Fund Advisors LP now owns 186,177 shares of the industrial products company’s stock worth $3,537,000 after buying an additional 64,351 shares during the period. Globeflex Capital L P increased its position in shares of Neff Corporation by 1.3% in the second quarter. Globeflex Capital L P now owns 111,543 shares of the industrial products company’s stock worth $2,119,000 after buying an additional 1,443 shares during the period. Nordea Investment Management AB acquired a new position in shares of Neff Corporation during the second quarter worth $2,172,000. Vanguard Group Inc. increased its position in shares of Neff Corporation by 7.5% in the second quarter. Vanguard Group Inc. now owns 416,833 shares of the industrial products company’s stock worth $7,920,000 after buying an additional 28,947 shares during the period. Finally, Thrivent Financial For Lutherans acquired a new position in shares of Neff Corporation during the second quarter worth $3,826,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.
Neff Corporation Company Profile
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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