Neff Corporation (NEFF) Position Raised by Zacks Investment Management
Zacks Investment Management boosted its stake in shares of Neff Corporation (NYSE:NEFF) by 13.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,234 shares of the company’s stock after buying an additional 17,852 shares during the period. Zacks Investment Management owned approximately 1.65% of Neff Corporation worth $1,399,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in NEFF. BlackRock Inc. increased its position in shares of Neff Corporation by 3.2% in the third quarter. BlackRock Inc. now owns 11,463 shares of the company’s stock valued at $109,000 after buying an additional 359 shares during the last quarter. Rhumbline Advisers increased its position in shares of Neff Corporation by 1.5% in the third quarter. Rhumbline Advisers now owns 13,486 shares of the company’s stock valued at $128,000 after buying an additional 200 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Neff Corporation by 292.9% in the third quarter. Acrospire Investment Management LLC now owns 16,815 shares of the company’s stock valued at $160,000 after buying an additional 12,535 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Neff Corporation 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 during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of Neff Corporation during the second quarter valued at about $395,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Neff Corporation (NYSE:NEFF) traded down 0.35% during trading on Friday, reaching $14.05. 66,707 shares of the company traded hands. The firm has a 50-day moving average price of $14.13 and a 200-day moving average price of $10.72. The firm has a market capitalization of $125.20 million, a PE ratio of 15.49 and a beta of 3.63. Neff Corporation has a 12 month low of $3.62 and a 12 month high of $15.20.
Neff Corporation (NYSE:NEFF) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business earned $105.50 million during the quarter, compared to analyst estimates of $102.24 million. Neff Corporation had a negative return on equity of 8.08% and a net margin of 2.32%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. Equities research analysts anticipate that Neff Corporation will post $1.41 EPS for the current year.
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Separately, Jefferies Group lowered shares of Neff Corporation from a “buy” rating to a “hold” rating and upped their price target for the stock from $12.00 to $14.00 in a research report on Tuesday, November 29th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Neff Corporation currently has a consensus rating of “Hold” and a consensus target price of $9.15.
About Neff Corporation
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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