Commercial Distribution Finance (CDF), a business of GE Capital, announced today that it has been selected by Bush Hog, Inc., a business of General Electric Company (NYSE:GE) Capital, announced today that it has been selected by Bush Hog, Inc., a leading North American manufacturer of rotary cutters, to provide financing solutions to its U.S. dealer network.
CDF will provide Bush Hog dealers with a supplemental inventory financing program sometimes referred to as a “rollover program”. This “rollover program” will allow Bush Hog dealers another source of capital to finance their Bush Hog inventory coming due with the supplier.
Headquartered in Selma, AL, Bush Hog also manufactures zero-turning radius mowers, tractor loaders, backhoe attachments, landscape tools and replacement parts. Bush Hog is a subsidiary of Alamo Group.
“This program will provide our dealer with an additional source of financing to help them grow,“ said Tony Marchese, vice president of sales at Bush Hog. “We value the innovative solutions that CDF offers to meet our dealer’s needs.”
“We are excited to work with Bush Hog and its dealers,” said Mike Horak, president of the outdoor products group at CDF. “We specialize in custom-made financing programs to help our customers be even more successful.” (Original Source)
Shares of General Electric closed yesterday at $26.07. GE has a 1-year high of $28.68 and a 1-year low of $23.41. The stock’s 50-day moving average is $26.28 and its 200-day moving average is $26.14.
On the ratings front, General Electric has been the subject of a number of recent research reports. In a report issued on July 20, UBS analyst Shannon O’Callaghan reiterated a Buy rating on GE, with a price target of $32, which implies an upside of 22.7% from current levels. Separately, on June 26, William Blair’s Nicholas Heymann reiterated a Hold rating on the stock and has a price target of $30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Shannon O’Callaghan and Nicholas Heymann have a total average return of 17.0% and 1.3% respectively. O’Callaghan has a success rate of 79.5% and is ranked #134 out of 3740 analysts, while Heymann has a success rate of 44.4% and is ranked #2358.
The street is mostly Bullish on GE stock. Out of 7 analysts who cover the stock, 4 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $33.00, which represents a potential upside of 26.6% from where the stock is currently trading.