Griffon (NYSE:GFF) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• Griffon's stock received a "hold (c)" rating from Weiss Ratings, which follows a recent downgrade by Wall Street Zen from a "buy" to a "hold" rating.
• The stock saw an increase of 1.9% in trading, reaching $74.28, with a 12-month low of $62.26 and a high of $86.73.
• Griffon reported earnings of $1.50 per share for the last quarter, consistent with estimates, but its revenue fell short at $613.63 million, down 5.3% year-over-year.

Griffon (NYSE:GFF - Get Free Report)'s stock had its "hold (c)" rating reissued by Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

Several other analysts also recently weighed in on the company. Robert W. Baird upped their price target on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Wall Street Zen downgraded Griffon from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Zacks Research downgraded Griffon from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $98.20.

Griffon Stock Up 1.9%

Shares of NYSE:GFF traded up $1.37 during trading on Tuesday, hitting $74.28. The stock had a trading volume of 84,866 shares, compared to its average volume of 375,333. Griffon has a 12 month low of $62.26 and a 12 month high of $86.73. The company has a market capitalization of $3.46 billion, a PE ratio of 55.43, a PEG ratio of 1.00 and a beta of 1.11. The firm's fifty day moving average is $75.84 and its 200 day moving average is $73.44. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. Griffon had a return on equity of 144.21% and a net margin of 2.78%.The firm had revenue of $613.63 million during the quarter, compared to analyst estimates of $649.95 million. During the same quarter in the prior year, the company earned $1.24 EPS. The business's revenue was down 5.3% compared to the same quarter last year. Analysts anticipate that Griffon will post 5.55 EPS for the current fiscal year.

Institutional Trading of Griffon

Several institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted 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 worth $32,000 after buying an additional 436 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Griffon by 151.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate's stock worth $32,000 after buying an additional 264 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in Griffon in the 2nd quarter worth $37,000. Signaturefd LLC raised its holdings in Griffon by 72.9% in the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock worth $40,000 after purchasing an additional 234 shares during the period. Finally, Brooklyn Investment Group raised its holdings in Griffon by 11,460.0% in the 1st quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock worth $41,000 after purchasing an additional 573 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

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.

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