Griffon (NYSE:GFF) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Griffon (NYSE:GFF) from a "hold" to a "buy" rating in the latest report.
• Griffon beat quarterly estimates with EPS of $1.45 (vs. $1.34 est.) and revenue of $649.1M (vs. $618.4M est.), and analysts hold a Moderate Buy consensus with an average target of $107.67.
• Notable insider selling occurred on Feb. 9 (Director James W. Sight sold 3,070 shares; SVP Seth L. Kaplan sold 15,000), while the stock trades near $93 with a PE around 101 and a 52‑week high close to $97.58.

Griffon (NYSE:GFF - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

GFF has been the topic of a number of other research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Griffon in a research note on Friday, March 27th. Stephens increased their price target on Griffon from $92.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 9th. Zacks Research downgraded Griffon from a "hold" rating to a "strong sell" rating in a research note 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 issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Griffon presently has a consensus rating of "Moderate Buy" and an average target price of $107.67.

Griffon Trading Up 0.9%

Griffon stock opened at $93.08 on Friday. The business's 50-day simple moving average is $79.57 and its 200-day simple moving average is $78.24. The company has a debt-to-equity ratio of 12.36, a quick ratio of 1.27 and a current ratio of 2.55. The firm has a market capitalization of $4.34 billion, a PE ratio of 101.18, a PEG ratio of 1.54 and a beta of 1.36. Griffon has a 52 week low of $65.01 and a 52 week high of $97.58.

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, beating 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 return on equity of 228.83% and a net margin of 1.76%.The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 EPS. Equities research analysts forecast that Griffon will post 5.16 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 that occurred on Monday, February 9th. The shares were sold at an average price of $96.15, for a total value of $295,180.50. Following the transaction, the director owned 13,872 shares of the company's stock, valued at approximately $1,333,792.80. The trade was a 18.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Seth L. Kaplan sold 15,000 shares of Griffon stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 119,747 shares in the company, valued at approximately $11,428,653.68. The trade was a 11.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 10.20% of the company's stock.

Hedge Funds Weigh In On Griffon

A number of large investors have recently added to or reduced their stakes in GFF. Hantz Financial Services Inc. increased its holdings 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 purchasing an additional 211 shares in the last quarter. Huntington National Bank increased its holdings 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 purchasing an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in Griffon during the 4th quarter worth about $34,000. Caitong International Asset Management Co. Ltd increased its holdings 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 purchasing an additional 388 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in Griffon during the 2nd quarter worth about $37,000. Institutional investors own 73.22% of the company's stock.

About Griffon

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.

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