New Rating issued on Neff Corp (NEFF): Upgraded by BofA/Merrill to ” Buy”

Neff Corp (NEFF) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Neff Corp was Upgraded by BofA/Merrill to ” Buy” on Mar 15, 2017.

Several company insiders have filed Insider transactions , on Nov 25, 2015, Michael Sileck (director) purchased 7,000 shares at $8.12 per share price. According to the SEC, on Nov 19, 2015, Westley Parks (COO) purchased 4,000 shares at $7.24 per share price. On Nov 19, 2015, Graham Hood (CEO) purchased 10,000 shares at $7.20 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, Neff Corp reported $0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Mar 2, 2017. Analyst had a consensus of $0.39. The company had revenue of $102.30 million for the quarter, compared to analysts expectations of $102.32 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Neff Corp opened for trading at $15.2 and hit $16.5 on the upside on Wednesday, eventually ending the session at $16.3, with a gain of 11.26% or 1.65 points. The heightened volatility saw the trading volume jump to 1,27,368 shares. Company has a market cap of $540 M.

Neff Corporation is an equipment rental company. The Company’s operations are focused on the Sunbelt states. The Company offers an array of 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. Its earthmoving equipment include consist of excavators backhoes loaders bulldozers mini-excavators trenchers sweepers and tractors track loaders and skid steers. Its material handling equipment includes reach forklifts industrial forklifts and straight-mast forklifts. Its aerial equipment includes personnel lifts electric scissor lifts dual fuel scissor lifts articulating boom lifts and straight boom lifts. Its other rental equipment includes compaction and concrete trucks and trailers sweepers air equipment generators welders lighting pumps and other small equipment and tools.

Neff Corp

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