Griffon (NYSE:GFF) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Griffon Corporation ( GFF ) is a diversified management and holding company conducting business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital. Griffon currently conducts its operations through three reportable segments: Home & Building Product, Telephonics Corporation and Clopay Plastic Products. Griffon Corporation is listed on the New York Stock Exchanges and trades under the symbol GFF. “

A number of other analysts also recently commented on the company. Robert W. Baird upgraded Griffon from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $23.00 to $24.00 in a report on Tuesday. Sidoti upped their price objective on Griffon from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, ValuEngine downgraded Griffon from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Griffon presently has a consensus rating of “Hold” and a consensus price target of $23.33.

Shares of GFF stock traded up $1.04 on Tuesday, reaching $20.67. 189,308 shares of the stock were exchanged, compared to its average volume of 146,778. The stock has a market cap of $910.03 million, a P/E ratio of 19.14 and a beta of 2.10. The company has a quick ratio of 1.24, a current ratio of 2.37 and a debt-to-equity ratio of 2.29. The firm has a 50 day moving average of $20.52 and a two-hundred day moving average of $19.42. Griffon has a 1-year low of $12.23 and a 1-year high of $25.50.

Griffon (NYSE:GFF) last released its quarterly earnings data on Wednesday, November 13th. The conglomerate reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.07. The business had revenue of $574.16 million during the quarter, compared to the consensus estimate of $570.10 million. Griffon had a return on equity of 9.69% and a net margin of 1.69%. During the same period in the prior year, the firm posted $0.38 EPS. On average, equities research analysts predict that Griffon will post 1.28 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Griffon by 91.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,196 shares of the conglomerate’s stock valued at $46,000 after purchasing an additional 1,050 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Griffon in the 3rd quarter valued at $128,000. Tower Research Capital LLC TRC increased its holdings in Griffon by 719.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,691 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 8,508 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Griffon in the 3rd quarter valued at $207,000. Finally, United Services Automobile Association acquired a new stake in Griffon in the 2nd quarter valued at $212,000. Hedge funds and other institutional investors own 69.45% of the company’s stock.

Griffon Company Profile

Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.

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