Griffon (NYSE:GFF) Cut to Hold at Wall Street Zen
by Teresa Graham · The Cerbat GemWall Street Zen downgraded shares of Griffon (NYSE:GFF – Free Report) from a buy rating to a hold rating in a research note released on Saturday.
Several other equities research analysts have also issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Griffon in a research report on Friday, March 27th. Stephens increased their price objective on shares of Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Zacks Research lowered shares of Griffon from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Finally, Robert W. Baird set a $108.00 price objective on shares of Griffon in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.67.
View Our Latest Analysis on GFF
Griffon Stock Performance
NYSE:GFF opened at $90.71 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.55 and a debt-to-equity ratio of 12.36. The company has a market cap of $4.23 billion, a P/E ratio of 98.59, a P/E/G ratio of 1.47 and a beta of 1.36. Griffon has a fifty-two week low of $63.92 and a fifty-two week high of $97.58. The firm’s 50 day moving average is $79.70 and its two-hundred day moving average is $77.83.
Griffon (NYSE:GFF – Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $649.09 million for the quarter, compared to the consensus estimate of $618.35 million. Griffon had a net margin of 1.76% and a return on equity of 228.83%. Griffon’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share. Analysts expect that Griffon will post 5.16 EPS for the current year.
Griffon Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Friday, February 27th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Griffon’s dividend payout ratio is presently 95.65%.
Insider Buying and Selling at Griffon
In related news, SVP Seth L. Kaplan sold 15,000 shares of Griffon stock in a transaction on Monday, February 9th. The shares were sold at an average price of $95.44, for a total transaction of $1,431,600.00. Following the sale, the senior vice president owned 119,747 shares of the company’s stock, valued at $11,428,653.68. The trade was a 11.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James W. Sight sold 3,070 shares of Griffon stock in a transaction on Monday, February 9th. The stock was sold at an average price of $96.15, for a total transaction of $295,180.50. Following the sale, the director directly owned 13,872 shares in the company, valued at $1,333,792.80. This trade represents a 18.12% decrease in their position. The SEC filing for this sale provides additional information. 10.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Griffon
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFF. Hantz Financial Services Inc. increased its stake in Griffon by 149.6% during the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after buying an additional 211 shares during the period. Huntington National Bank increased its stake in Griffon by 645.0% during the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after buying an additional 387 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Griffon during the 4th quarter worth $34,000. Caitong International Asset Management Co. Ltd increased its stake in Griffon by 362.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock worth $36,000 after buying an additional 388 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new stake in Griffon during the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.
Griffon Company Profile
Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.
In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.