Griffon (NYSE:GFF – Get Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.
Several other equities analysts have also recently issued reports on the company. TheStreet cut Griffon from a “b-” rating to a “c+” rating in a research note on Wednesday, March 15th. Stephens lowered their target price on Griffon from $52.00 to $37.00 in a report on Monday.
Griffon Stock Performance
Shares of NYSE GFF opened at $30.45 on Thursday. The stock’s 50-day moving average is $31.08 and its 200 day moving average is $34.54. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -5.35 and a beta of 1.55. Griffon has a 1-year low of $22.77 and a 1-year high of $43.74. The company has a current ratio of 3.18, a quick ratio of 1.68 and a debt-to-equity ratio of 3.18.
Griffon (NYSE:GFF – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The conglomerate reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.53. Griffon had a positive return on equity of 40.44% and a negative net margin of 10.22%. The firm had revenue of $710.98 million during the quarter, compared to the consensus estimate of $723.23 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The business’s revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Griffon will post 3.77 EPS for the current fiscal year.
Institutional Investors Weigh In On Griffon
Several institutional investors have recently modified their holdings of GFF. Rockefeller Capital Management L.P. increased its holdings in Griffon by 143.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,023 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 602 shares during the period. Beacon Capital Management LLC raised its holdings in Griffon by 210.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,268 shares of the conglomerate’s stock worth $81,000 after purchasing an additional 1,538 shares during the period. Bessemer Group Inc. acquired a new position in Griffon in the 3rd quarter worth about $74,000. Lazard Asset Management LLC increased its stake in Griffon by 24.6% during the 3rd quarter. Lazard Asset Management LLC now owns 2,672 shares of the conglomerate’s stock worth $78,000 after buying an additional 528 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Griffon by 64.5% during the 1st quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock worth $55,000 after buying an additional 1,080 shares in the last quarter. 74.15% of the stock is owned by institutional investors.
About Griffon
Griffon Corp. is a diversified management and holding company, which conducts business through its subsidiaries. It provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities. It operates through the Consumer and Professional Products and Home and Building Products segments.