Griffon (NYSE:GFF) Stock Rating Upgraded by Loop Capital

Griffon (NYSE:GFF - Get Free Report) was upgraded by research analysts at Loop Capital to a "strong-buy" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

GFF has been the subject of a number of other research reports. Raymond James reiterated a "strong-buy" rating and issued a $95.00 price objective (up previously from $92.00) on shares of Griffon in a report on Thursday, February 6th. Stephens upped their price objective on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Robert W. Baird upped their price objective on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Finally, StockNews.com downgraded Griffon from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Griffon presently has an average rating of "Buy" and a consensus price target of $98.75.

Griffon Trading Up 0.4 %

Shares of GFF stock traded up $0.32 on Friday, reaching $76.94. 325,573 shares of the stock were exchanged, compared to its average volume of 320,499. The stock has a market cap of $3.66 billion, a PE ratio of 15.70 and a beta of 1.43. Griffon has a one year low of $55.01 and a one year high of $86.73. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.34. The stock has a 50 day moving average price of $75.32 and a 200 day moving average price of $71.32.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The conglomerate reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. Equities research analysts forecast that Griffon will post 5.55 EPS for the current fiscal year.

Griffon announced that its Board of Directors has initiated a stock repurchase program on Wednesday, November 13th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the conglomerate to purchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Victor Eugene Renuart sold 4,500 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $84.46, for a total transaction of $380,070.00. Following the completion of the transaction, the director now directly owns 19,312 shares of the company's stock, valued at $1,631,091.52. This represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cheryl L. Turnbull sold 3,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $80.80, for a total value of $242,400.00. Following the transaction, the director now directly owns 30,730 shares of the company's stock, valued at $2,482,984. This represents a 8.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,670 shares of company stock worth $1,038,035 over the last ninety days. 10.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its position in shares of Griffon by 4.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,934 shares of the conglomerate's stock worth $280,000 after buying an additional 154 shares during the period. Raymond James Trust N.A. boosted its position in shares of Griffon by 5.1% during the third quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate's stock worth $244,000 after buying an additional 168 shares during the period. Optimist Retirement Group LLC boosted its position in shares of Griffon by 5.3% during the fourth quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate's stock worth $256,000 after buying an additional 181 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Griffon by 4.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,977 shares of the conglomerate's stock worth $355,000 after buying an additional 198 shares during the period. Finally, McIlrath & Eck LLC boosted its position in Griffon by 116.1% during the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after purchasing an additional 202 shares during the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

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.