General Finance Co. (NASDAQ:GFN) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 199,400 shares, a drop of 12.7% from the October 31st total of 228,400 shares. Based on an average daily volume of 32,400 shares, the days-to-cover ratio is currently 6.2 days. Currently, 1.1% of the company’s shares are sold short.
A number of equities analysts recently weighed in on the company. Zacks Investment Research upgraded General Finance from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, November 19th. ValuEngine upgraded General Finance from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in General Finance during the 3rd quarter worth about $28,000. Royal Bank of Canada boosted its position in 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 worth $32,000 after acquiring an additional 3,463 shares during the period. Marshall Wace LLP acquired a new stake in General Finance during the 1st quarter worth about $81,000. SG Americas Securities LLC acquired a new stake in General Finance during the 2nd quarter worth about $100,000. Finally, Rhumbline Advisers boosted its position in General Finance by 7.9% during the 3rd 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 period. Hedge funds and other institutional investors own 23.48% of the company’s stock.
NASDAQ GFN traded up $0.68 during trading on Friday, reaching $10.81. 44,755 shares of the company’s stock were exchanged, compared to its average volume of 24,297. General Finance has a fifty-two week low of $6.95 and a fifty-two week high of $13.97. The firm has a market capitalization of $330.57 million, a PE ratio of 38.61, a P/E/G ratio of 1.21 and a beta of 1.57. The company has a current ratio of 1.51, a quick ratio of 1.06 and a debt-to-equity ratio of 3.38. The company’s fifty day simple moving average is $9.66 and its 200-day simple moving average is $8.48.
General Finance (NASDAQ:GFN) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. General Finance had a return on equity of 12.88% and a net margin of 1.55%. The firm had revenue of $89.90 million during the quarter, compared to analyst estimates of $92.60 million. Equities analysts forecast that General Finance will post 0.69 EPS for the current fiscal year.
General Finance Company Profile
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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