Deutsche Bank Aktiengesellschaft Initiates Coverage on Griffon (NYSE:GFF)

Equities researchers at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Griffon (NYSE:GFF) in a report released on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $91.00 price target on the conglomerate’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 21.28% from the stock’s previous close.

GFF has been the subject of a number of other reports. StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Loop Capital raised shares of Griffon to a “strong-buy” rating in a report on Friday, February 14th. Stephens increased their price target on Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $95.00 price objective (up from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Griffon has an average rating of “Buy” and an average target price of $97.20.

Griffon Stock Up 2.7 %

NYSE:GFF opened at $75.03 on Tuesday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 15.31 and a beta of 1.40. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. The stock’s fifty day moving average price is $73.79 and its two-hundred day moving average price is $72.93. Griffon has a 52-week low of $55.01 and a 52-week high of $86.73.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. On average, analysts anticipate that Griffon will post 5.55 EPS for the current year.

Insiders Place Their Bets

In related news, Director Cheryl L. Turnbull sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.80, for a total transaction of $242,400.00. Following the completion of the sale, the director now directly owns 30,730 shares of the company’s stock, valued at approximately $2,482,984. This represents a 8.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Griffon by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 519,926 shares of the conglomerate’s stock worth $36,395,000 after purchasing an additional 34,525 shares during the period. Citigroup Inc. lifted its holdings in shares of Griffon by 109.6% in the third quarter. Citigroup Inc. now owns 63,122 shares of the conglomerate’s stock valued at $4,419,000 after purchasing an additional 33,002 shares in the last quarter. FMR LLC boosted its position in shares of Griffon by 33.9% during the third quarter. FMR LLC now owns 76,213 shares of the conglomerate’s stock worth $5,335,000 after buying an additional 19,291 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Griffon by 6.6% during the third quarter. BNP Paribas Financial Markets now owns 39,761 shares of the conglomerate’s stock worth $2,783,000 after buying an additional 2,453 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Griffon by 74.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 473,490 shares of the conglomerate’s stock valued at $33,144,000 after buying an additional 202,685 shares during the last quarter. Institutional investors and hedge funds 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.