Griffon (NYSE:GFF) Stock Rating Reaffirmed by Stephens

Griffon (NYSE:GFF)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a research note issued on Tuesday, Benzinga reports. They presently have a $85.00 price target on the conglomerate’s stock. Stephens’ price target suggests a potential upside of 35.03% from the company’s previous close.

Several other brokerages have also weighed in on GFF. Robert W. Baird reduced their price objective on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com lowered Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $81.50.

Griffon Stock Performance

Shares of GFF opened at $62.95 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 16.61 and a beta of 1.30. The stock has a 50 day moving average of $65.82 and a 200 day moving average of $67.47. Griffon has a 12 month low of $38.33 and a 12 month high of $77.99.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share 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 firm had revenue of $647.80 million for the quarter, compared to the consensus estimate of $688.94 million. During the same period last year, the company posted $1.29 earnings per share. Griffon’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Griffon will post 4.83 earnings per share for the current year.

Insider Buying and Selling at Griffon

In other news, Director Kevin F. Sullivan sold 12,447 shares of Griffon stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the transaction, the director now owns 50,390 shares in the company, valued at $3,275,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Scarborough Advisors LLC purchased a new position in shares of Griffon in the fourth quarter worth about $35,000. Quarry LP grew its stake in shares of Griffon by 98.7% in the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after purchasing an additional 386 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Griffon in the second quarter worth about $55,000. GAMMA Investing LLC grew its stake in shares of Griffon by 65.1% in the first quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 332 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Griffon in the first quarter worth about $65,000. Hedge funds and other institutional investors 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.