General Finance (NASDAQ:GFN) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of General Finance (NASDAQ:GFN) from a hold rating to a buy rating in a research report released on Tuesday morning, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of General Finance from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Tuesday, November 19th.

Shares of GFN traded down $0.35 during trading hours on Tuesday, reaching $10.37. 34,369 shares of the company traded hands, compared to its average volume of 36,041. The stock has a market capitalization of $317.07 million, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.31 and a beta of 1.59. The stock has a fifty day simple moving average of $9.97 and a 200 day simple moving average of $8.55. General Finance has a fifty-two week low of $6.95 and a fifty-two week high of $12.30. The company has a quick ratio of 1.06, a current ratio of 1.51 and a debt-to-equity ratio of 3.38.

General Finance (NASDAQ:GFN) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $89.90 million during the quarter, compared to the consensus estimate of $92.60 million. General Finance had a net margin of 1.55% and a return on equity of 12.88%. Research analysts predict that General Finance will post 0.69 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new stake in General Finance in the 3rd quarter worth about $28,000. Royal Bank of Canada increased its stake in shares of General Finance by 1,027.6% during the 2nd quarter. Royal Bank of Canada now owns 3,800 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 3,463 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of General Finance during the 1st quarter worth about $81,000. SG Americas Securities LLC purchased a new position in shares of General Finance during the 2nd quarter worth about $100,000. Finally, Rhumbline Advisers boosted its position in shares of General Finance by 7.9% in the third quarter. Rhumbline Advisers now owns 15,037 shares of the business services provider’s stock worth $133,000 after acquiring an additional 1,098 shares during the last quarter. Hedge funds and other institutional investors own 23.48% of the company’s stock.

About General Finance

General Finance Corporation, a specialty rental services company, provides portable storage, modular space, and liquid containment solutions in North America and the Asia-Pacific regions. Its portable storage products include storage containers used in classroom equipment storage, construction equipment and tool storage, disaster shelters, landscaping sheds, recreational equipment storage, and retail inventory storage applications; and freight containers used in freight transportation by road and rail.

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