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HEES

H&E Equipment

$20.38

-0.06 (-0.29%)

, NEFF

Acquired by URI

09:42
07/14/17
07/14
09:42
07/14/17
09:42

H&E Equipment sees $25M-$30M of synergies annually from Neff acquisition

H&E (HEES) estimates the acquisition will create $25M-$30M of synergies annually related to corporate overhead, systems and operational efficiencies, as well as scale benefits for equipment purchases. The acquisition of Neff (NEFF) is expected to generate in excess of $800M of gross tax assets for H&E arising from a step-up in the basis of certain of Neff's assets. Wells Fargo Bank and affiliated entities have agreed to provide committed financing for the transaction, subject to customary conditions. The transaction is not subject to a financing condition. Private investment funds managed by Wayzata Investment Partners holding approximately 62.7% of the outstanding common shares of Neff have executed a written consent to approve the transaction, thereby providing the required stockholder approval for the transaction. The merger agreement includes a "go-shop" period which runs through August 20, 2017 during which the special committee of Neff's board of directors, with the assistance of its financial and legal advisors, may solicit alternative proposals to acquire Neff. There can be no assurance that this process will result in receipt of a superior offer or that any other transactions will be approved or consummated.

HEES

H&E Equipment

$20.38

-0.06 (-0.29%)

NEFF

Acquired by URI

  • 27

    Jul

HEES H&E Equipment
$20.38

-0.06 (-0.29%)

01/10/17
LBOW
01/10/17
NO CHANGE
LBOW
H&E Equipment price target raised to $26 from $22 at Longbow
Longbow analyst Neil Fronhapple raised his price target on H&E Equipment as he believes that the stock's risk/reward ratio remains positive following the stock's advance. The analyst says that his "positive view..is emboldened by the backdrop of potentially higher infrastructure spending starting in 2018, a possible lengthening of the non-residential construction cycle, and higher oil prices." He keeps above-consensus estimates and a Buy rating on the stock.
10/07/16
UBSW
10/07/16
DOWNGRADE
Target $14.44
UBSW
Sell
H&E Equipment downgraded to Sell from Neutral at UBS
UBS analyst Steven Fisher downgraded H&E Equipment (HEES) to Sell saying his firm's geospatial analysis indicates rental business competition between the company and United Rentals (URI) has increased over the past year. The analyst believes H&E's rental business could remain under pressure as Gulf Coast project spending slows while a crane recovery is unlikely in 2017 amid a muted construction growth cycle. Fisher lowered his price target for H&E shares to $14.44 from $17.50.
NEFF Acquired by URI

03/15/17
03/15/17
UPGRADE
Target $20

Buy
Neff double upgraded to Buy on improving pricing, free cash flow at BofA/Merrill
As previously reported, BofA Merrill Lynch analyst Ross Gilardi upgraded Neff (NEFF) by two notches, to Buy from Underperform, and raised his price target on the shares to $20 from $12. The analyst said the read-across on rental from CONEXPO was positive, pricing in the rental market is improving, state fiscal stimulus measures are supportive in the Sunbelt region and that the company's free cash flow generation is reassuring. Gilardi also noted that Neff shares have lagged industry leader United Rentals (URI) year-to-date and thinks his new target, which is an 11% discount to his target for United Rentals, "seems justified."
03/15/17
BOFA
03/15/17
UPGRADE
BOFA
Buy
Neff upgraded to Buy from Underperform at BofA/Merrill
11/29/16
JEFF
11/29/16
DOWNGRADE
Target $14
JEFF
Hold
Neff downgraded to Hold from Buy at Jefferies
Jefferies analyst Justin Jordan downgraded Neff to Hold saying the company's larger national peers are better positioned to win infrastructure work and benefit from stimulus under President Trump. The analyst also notes the stock is up 49% since the U.S. election. He raised his price target for Neff shares to $14 from $12.
11/23/16
PIPR
11/23/16
NO CHANGE
Target $112
PIPR
Overweight
Piper ups price targets after Rental Sentiment Survey
Piper Jaffray analyst George Tong raised his price targets for United Rentals (URI) and Neff (NEFF) following his firm's Rental Sentiment Survey of rental executives. The results increased the analyst's confidence in a "strengthening equipment rental demand outlook driven by aggressive planned increases in infrastructure spending under a Trump administration." Checks show stronger expectations for rental revenue growth over the next year, backed by an uptick in both rental rate and rental volume growth trends, Tong tells investors in a research note. He also believes increases in infrastructure spending will likely benefit 2018 estimates. The analyst raised his price target for United Rentals to $112 from $95 and for Neff to $15 from $13 citing a stronger spending outlook. Tong is a buyer of both stocks.

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PEGI

Pattern Energy

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Universal Stainless & Alloy

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RXDX

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1.9 (13.24%)

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NTB

Butterfield

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0.29 (0.82%)

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VSEC

VSE Corp.

$58.21

0.01 (0.02%)

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ADBE

Adobe

$153.00

2.62 (1.74%)

16:25
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Conference/Events
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HXL

Hexcel

$58.94

0.39 (0.67%)

16:24
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UAL

United Continental

$67.99

0.48 (0.71%)

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BDN

Brandywine Realty

$17.93

-0.02 (-0.11%)

16:24
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CCI

Crown Castle

$101.03

-0.315 (-0.31%)

16:23
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Earnings
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TSC

TriState Capital

$22.75

-0.2 (-0.87%)

16:23
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Earnings
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TBK

Triumph Bancorp

$31.80

0.25 (0.79%)

16:23
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BDN

Brandywine Realty

$17.93

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HXL

Hexcel

$58.94

0.39 (0.67%)

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EBAY

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BPFH

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16:22
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AXP

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$92.08

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, BRK.A

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$281,290.00

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AXP

American Express

$92.08

0.39 (0.43%)

BRK.A

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$281,290.00

240 (0.09%)

BRK.B

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0.46 (0.25%)

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EBAY

eBay

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VRS

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EBAY

eBay

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0.48 (1.28%)

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