Griffon (NYSE:GFF - Get Free Report) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Thursday.
Other research analysts have also recently issued research reports about the company. Stephens increased their target price on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Robert W. Baird increased their price objective on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Loop Capital upgraded Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $95.00 target price (up previously from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $98.75.
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Griffon Price Performance
Shares of GFF traded down $0.57 during trading hours on Thursday, reaching $70.94. 1,231,301 shares of the company's stock traded hands, compared to its average volume of 401,247. Griffon has a 12 month low of $55.01 and a 12 month high of $86.73. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44. The stock has a market cap of $3.41 billion, a PE ratio of 14.48 and a beta of 1.40. The firm's 50 day simple moving average is $74.27 and its 200-day simple moving average is $72.40.
Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.11. Griffon had a net margin of 9.13% and a return on equity of 120.61%. Equities analysts expect that Griffon will post 5.55 EPS for the current year.
Insider Buying and Selling
In related news, Director Cheryl L. Turnbull sold 3,000 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the completion of the sale, the director now directly owns 30,730 shares in the company, valued at $2,482,984. This represents a 8.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Griffon
A number of hedge funds have recently modified their holdings of GFF. Thrivent Financial for Lutherans grew its stake in shares of Griffon by 2.9% in the third quarter. Thrivent Financial for Lutherans now owns 44,769 shares of the conglomerate's stock worth $3,134,000 after purchasing an additional 1,257 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Griffon by 14.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 229,497 shares of the conglomerate's stock worth $16,065,000 after buying an additional 28,731 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Griffon by 44.2% during the third quarter. Intech Investment Management LLC now owns 25,871 shares of the conglomerate's stock valued at $1,811,000 after buying an additional 7,935 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Griffon by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 519,926 shares of the conglomerate's stock valued at $36,395,000 after acquiring an additional 34,525 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Griffon by 5.1% in the third quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate's stock worth $244,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 73.22% of the company's stock.
Griffon Company Profile
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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.
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