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

Griffon (NYSE:GFF) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

Several other analysts also recently weighed in on GFF. Stephens lifted their price objective on shares of Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Robert W. Baird boosted their price target on shares of Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Loop Capital upgraded shares of Griffon to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Raymond James restated a “strong-buy” rating and set a $95.00 price target (up from $92.00) on shares of Griffon in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus target price of $98.75.

Griffon Price Performance

GFF opened at $68.18 on Wednesday. The company has a fifty day simple moving average of $74.47 and a 200 day simple moving average of $72.16. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 13.91 and a beta of 1.40. Griffon has a twelve month low of $55.01 and a twelve month high of $86.73. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.11. Griffon had a net margin of 9.13% and a return on equity of 120.61%. Equities research analysts expect that Griffon will post 5.55 EPS for the current fiscal year.

Insider Transactions at Griffon

In other news, Director Cheryl L. Turnbull sold 3,000 shares of Griffon stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total value of $242,400.00. Following the transaction, the director now owns 30,730 shares of the company’s stock, valued at $2,482,984. The trade was a 8.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Griffon by 33.9% in the third quarter. FMR LLC now owns 76,213 shares of the conglomerate’s stock valued at $5,335,000 after acquiring an additional 19,291 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of Griffon by 35.1% during the 4th quarter. Arcadia Investment Management Corp MI now owns 23,551 shares of the conglomerate’s stock worth $1,678,000 after buying an additional 6,125 shares during the period. State Street Corp boosted its holdings in shares of Griffon by 4.1% during the 3rd quarter. State Street Corp now owns 1,555,908 shares of the conglomerate’s stock worth $108,914,000 after buying an additional 61,210 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of Griffon during the 3rd quarter worth $2,089,000. Finally, Jane Street Group LLC boosted its holdings in shares of Griffon by 21.4% during the 3rd quarter. Jane Street Group LLC now owns 348,907 shares of the conglomerate’s stock worth $24,423,000 after buying an additional 61,399 shares during the period. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Company Profile

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.