Equities researchers at StockNews.com began coverage on shares of Griffon (NYSE:GFF – Get Rating) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the conglomerate’s stock.
Griffon Stock Down 0.7 %
Shares of NYSE GFF opened at $30.54 on Wednesday. The company has a 50 day simple moving average of $31.79 and a 200-day simple moving average of $27.78. The company has a market capitalization of $1.74 billion, a P/E ratio of 6.80 and a beta of 1.53. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.26 and a quick ratio of 1.07. Griffon has a 1 year low of $17.56 and a 1 year high of $34.92.
Griffon (NYSE:GFF – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.32. The business had revenue of $768.18 million during the quarter, compared to the consensus estimate of $805.00 million. Griffon had a net margin of 8.90% and a return on equity of 21.06%. On average, equities research analysts predict that Griffon will post 3.74 earnings per share for the current year.
Hedge Funds Weigh In On Griffon
Hedge funds have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Griffon during the 1st quarter worth approximately $1,827,000. GSA Capital Partners LLP purchased a new position in shares of Griffon during the 1st quarter worth approximately $234,000. Victory Capital Management Inc. boosted its position in shares of Griffon by 44.2% during the 1st quarter. Victory Capital Management Inc. now owns 26,758 shares of the conglomerate’s stock worth $501,000 after purchasing an additional 8,203 shares during the period. Keeley Teton Advisors LLC boosted its position in Griffon by 14.4% in the 1st quarter. Keeley Teton Advisors LLC now owns 272,850 shares of the conglomerate’s stock valued at $5,465,000 after buying an additional 34,302 shares during the period. Finally, SummerHaven Investment Management LLC boosted its position in Griffon by 4.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 35,502 shares of the conglomerate’s stock valued at $711,000 after buying an additional 1,564 shares during the period. Hedge funds and other institutional investors own 77.06% 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. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools, as well as cleaning products for professional, home, and industrial use.