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

Griffon (NYSE:GFF) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Other equities analysts have also recently issued reports about the company. Robert W. Baird decreased their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Stephens reissued an “overweight” rating and set a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $81.50.

Griffon Stock Performance

Griffon stock traded up $2.06 during mid-day trading on Monday, reaching $69.94. 682,249 shares of the company’s stock were exchanged, compared to its average volume of 441,178. The business’s fifty day simple moving average is $66.40 and its 200 day simple moving average is $67.33. The company has a quick ratio of 1.39, a current ratio of 2.50 and a debt-to-equity ratio of 6.71. The firm has a market capitalization of $3.47 billion, a PE ratio of 18.45 and a beta of 1.29. Griffon has a one year low of $38.33 and a one year high of $77.99.

Griffon (NYSE:GFF) last released its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. During the same period last year, the company earned $1.29 earnings per share. Griffon’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Griffon will post 4.87 earnings per share for the current year.

Insider Activity

In other Griffon news, COO Robert F. Mehmel sold 1,205 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $70.11, for a total transaction of $84,482.55. Following the sale, the chief operating officer now directly owns 754,046 shares of the company’s stock, valued at $52,866,165.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Kevin F. Sullivan sold 12,447 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total transaction of $809,055.00. Following the completion of the sale, the director now directly owns 50,390 shares of the company’s stock, valued at approximately $3,275,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert F. Mehmel sold 1,205 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $70.11, for a total value of $84,482.55. Following the transaction, the chief operating officer now owns 754,046 shares in the company, valued at approximately $52,866,165.06. The disclosure for this sale can be found here. Insiders have sold 209,251 shares of company stock worth $13,658,297 in the last three months. Company insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Griffon

Institutional investors and hedge funds have recently modified their holdings of the company. Scarborough Advisors LLC acquired a new position in shares of Griffon during the 4th quarter worth approximately $35,000. Quarry LP raised its holdings in shares of Griffon by 98.7% in the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 386 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Griffon in the 2nd quarter valued at about $55,000. GAMMA Investing LLC lifted its position in shares of Griffon by 65.1% during the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after buying an additional 332 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in Griffon in the first quarter valued at $65,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

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.