Griffon (NYSE:GFF) Rating Increased to Hold at Zacks Research

Griffon (NYSE:GFF) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on GFF. Robert W. Baird raised their price objective on Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Griffon in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $98.20.

Griffon Stock Performance

NYSE:GFF opened at $73.34 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58. The firm has a market capitalization of $3.41 billion, a PE ratio of 54.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.11. Griffon has a twelve month low of $63.92 and a twelve month high of $86.73. The stock’s 50-day simple moving average is $76.32 and its 200 day simple moving average is $74.09.

Griffon (NYSE:GFF) last posted its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 EPS for the quarter, meeting the consensus estimate of $1.50. The firm had revenue of $613.63 million during the quarter, compared to the consensus estimate of $649.95 million. Griffon had a return on equity of 144.21% and a net margin of 2.78%.The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. On average, analysts anticipate that Griffon will post 5.55 EPS for the current fiscal year.

Institutional Trading of Griffon

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Griffon by 151.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 264 shares during the period. IFP Advisors Inc raised its holdings in shares of Griffon by 8,720.0% during the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock valued at $32,000 after buying an additional 436 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Griffon during the 2nd quarter valued at about $37,000. McIlrath & Eck LLC raised its holdings in shares of Griffon by 43.4% during the 3rd quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock valued at $41,000 after buying an additional 163 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Griffon by 72.9% in the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 234 shares during the period. 73.22% of the stock is currently owned by institutional investors.

About Griffon

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.