Griffon (NYSE:GFF) Raised to Strong-Buy at StockNews.com

Griffon (NYSE:GFF - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a note issued to investors on Thursday.

Other analysts have also recently issued research reports about the company. Stephens reaffirmed an "overweight" rating and issued a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. Robert W. Baird upped their price objective on shares of Griffon from $84.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $83.50.

Griffon Price Performance

Shares of GFF stock traded up $0.73 during trading hours on Thursday, reaching $67.98. The stock had a trading volume of 299,139 shares, compared to its average volume of 424,171. The stock's fifty day simple moving average is $66.39 and its 200 day simple moving average is $66.58. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The firm has a market capitalization of $3.35 billion, a PE ratio of 18.03 and a beta of 1.31. Griffon has a 12 month low of $42.13 and a 12 month high of $77.99.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($0.07). The firm had revenue of $647.80 million for the quarter, compared to analysts' expectations of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. The firm's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 earnings per share. On average, equities research analysts predict that Griffon will post 4.87 EPS for the current year.

Insider Transactions at Griffon

In related news, SVP Seth L. Kaplan sold 4,844 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $339,080.00. Following the transaction, the senior vice president now directly owns 198,571 shares of the company's stock, valued at approximately $13,899,970. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,260,746 shares in the company, valued at $140,754,045.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Seth L. Kaplan sold 4,844 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $339,080.00. Following the transaction, the senior vice president now directly owns 198,571 shares in the company, valued at $13,899,970. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 260,464 shares of company stock worth $17,244,450. 16.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Griffon

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UniSuper Management Pty Ltd purchased a new position in shares of Griffon in the first quarter valued at about $557,000. Vanguard Group Inc. raised its position in Griffon by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate's stock valued at $432,954,000 after purchasing an additional 38,707 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Griffon by 228.7% in the 2nd quarter. Hsbc Holdings PLC now owns 61,704 shares of the conglomerate's stock worth $3,954,000 after buying an additional 42,934 shares during the period. Sei Investments Co. grew its position in shares of Griffon by 62.0% in the 1st quarter. Sei Investments Co. now owns 47,724 shares of the conglomerate's stock worth $3,500,000 after buying an additional 18,256 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Griffon by 659.0% during the second quarter. SG Americas Securities LLC now owns 30,466 shares of the conglomerate's stock valued at $1,946,000 after buying an additional 26,452 shares during the period. 73.22% of the stock is currently owned by institutional investors.

Griffon Company Profile

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.