Wall Street Zen Downgrades Griffon (NYSE:GFF) to Hold

Key Points

• Wall Street Zen has downgraded Griffon (NYSE:GFF) from a "buy" rating to a "hold" rating, indicating a change in the firm's outlook on the stock.
• Despite the downgrade from Wall Street Zen, other firms like Raymond James and Robert W. Baird have reaffirmed their "strong buy" ratings, setting target prices of $100.00.
• Griffon reported earnings of $1.50 per share, aligning with analyst expectations, but experienced a 5.3% decline in revenue compared to the same quarter last year.

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

Several other brokerages also recently commented on GFF. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $100.00 target price (up from $95.00) on shares of Griffon in a research note on Friday, May 9th. Robert W. Baird lifted their target price on shares of Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $98.20.

Griffon Price Performance

GFF traded up $0.12 on Friday, reaching $69.83. The company had a trading volume of 590,947 shares, compared to its average volume of 395,788. The business has a 50 day simple moving average of $74.76 and a 200 day simple moving average of $72.67. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 52.11, a P/E/G ratio of 0.77 and a beta of 1.09. The company has a debt-to-equity ratio of 22.58, a quick ratio of 1.38 and a current ratio of 2.70. Griffon has a 52-week low of $58.48 and a 52-week high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The conglomerate reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. The firm had revenue of $613.63 million for the quarter, compared to the consensus estimate of $649.95 million. Griffon had a net margin of 2.78% and a return on equity of 144.21%. The business's revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. As a group, sell-side analysts anticipate that Griffon will post 5.55 EPS for the current year.

Institutional Trading of Griffon

Several large investors have recently added to or reduced their stakes in GFF. McIlrath & Eck LLC boosted its holdings in Griffon by 116.1% in the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after acquiring an additional 202 shares in the last quarter. IFP Advisors Inc boosted its holdings in Griffon by 8,720.0% in the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate's stock valued at $32,000 after acquiring an additional 436 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Griffon by 151.7% in the second quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate's stock valued at $32,000 after acquiring an additional 264 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Griffon by 72.9% during the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after buying an additional 234 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in shares of Griffon by 11,460.0% during the 1st quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock valued at $41,000 after buying an additional 573 shares in the last quarter. Institutional investors 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.