Griffon (NYSE:GFF) Downgraded by Zacks Research to Strong Sell

Griffon (NYSE:GFF) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also commented on GFF. Stephens upped their target price on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. CJS Securities raised shares of Griffon to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $108.00 price target on shares of Griffon in a research report on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Griffon presently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

Griffon Stock Down 2.5%

GFF opened at $89.75 on Tuesday. Griffon has a 1-year low of $63.92 and a 1-year high of $97.58. The business has a 50 day moving average of $82.03 and a 200-day moving average of $77.34. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 97.56, a P/E/G ratio of 1.53 and a beta of 1.33. The company has a current ratio of 2.55, a quick ratio of 1.27 and a debt-to-equity ratio of 12.36.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The company had revenue of $649.09 million for the quarter, compared to analyst estimates of $618.35 million. During the same period last year, the business posted $1.39 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Griffon will post 5.55 earnings per share for the current year.

Insider Buying and Selling

In other Griffon news, 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 value of $295,180.50. Following the completion of the transaction, the director owned 13,872 shares in the company, valued at approximately $1,333,792.80. The trade was a 18.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Seth L. Kaplan sold 15,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $95.44, for a total value of $1,431,600.00. Following the completion of the sale, the senior vice president owned 119,747 shares of the company’s stock, valued at approximately $11,428,653.68. This trade represents a 11.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Griffon

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. increased its holdings in shares of Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 211 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Griffon by 151.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock valued at $32,000 after buying an additional 264 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Griffon by 8,720.0% in the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock valued at $32,000 after buying an additional 436 shares during the period. Huntington National Bank lifted its stake in shares of Griffon by 645.0% during the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 387 shares during the period. Finally, Hilton Head Capital Partners LLC bought a new position in Griffon in the fourth quarter valued at about $34,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

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.