Griffon (NYSE:GFF) Upgraded by Zacks Research to “Hold” Rating

Griffon (NYSE:GFF) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also weighed in on GFF. Stephens increased their target price on Griffon from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Wall Street Zen raised shares of Griffon from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a report on Monday, December 29th. Finally, CJS Securities raised shares of Griffon to a “strong-buy” rating in a research report on Thursday, December 11th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Griffon currently has a consensus rating of “Buy” and an average target price of $95.60.

Griffon Stock Performance

Griffon stock opened at $82.57 on Monday. The company has a debt-to-equity ratio of 18.99, a current ratio of 2.66 and a quick ratio of 1.34. The firm has a market capitalization of $3.85 billion, a P/E ratio of 82.57, a price-to-earnings-growth ratio of 1.24 and a beta of 1.31. Griffon has a 1-year low of $63.92 and a 1-year high of $86.03. The company’s 50-day moving average is $75.58 and its 200 day moving average is $76.10.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, November 19th. The conglomerate reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02). Griffon had a net margin of 2.03% and a return on equity of 181.66%. The business had revenue of $662.18 million for the quarter, compared to the consensus estimate of $631.47 million. During the same period in the prior year, the company posted $1.47 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Research analysts forecast that Griffon will post 5.55 EPS for the current year.

Hedge Funds Weigh In On Griffon

Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc raised its stake in Griffon by 8,720.0% in the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after buying an additional 436 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Griffon by 151.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 264 shares in the last quarter. Huntington National Bank lifted its stake in shares of Griffon by 645.0% during the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 387 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in Griffon during the second quarter valued at about $37,000. Finally, McIlrath & Eck LLC grew its stake in Griffon by 43.4% in the third quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 163 shares during the last quarter. 73.22% of the stock is currently owned by institutional investors.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.