Griffon (NYSE:GFF) Upgraded to “Strong-Buy” at Loop Capital

Griffon (NYSE:GFF) was upgraded by investment analysts at Loop Capital to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

GFF has been the subject of several other reports. Robert W. Baird raised their price objective on shares of Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Raymond James reiterated a “strong-buy” rating and issued a $95.00 price target (up from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Stephens boosted their price objective on Griffon from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, StockNews.com lowered Griffon from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $98.75.

Griffon Stock Up 1.2 %

Shares of NYSE GFF opened at $77.32 on Friday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 15.78 and a beta of 1.43. Griffon has a 1 year low of $55.01 and a 1 year high of $86.73. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.44 and a current ratio of 2.51. The stock’s 50-day simple moving average is $75.50 and its 200-day simple moving average is $71.17.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. As a group, equities analysts anticipate that Griffon will post 5.51 earnings per share for the current fiscal year.

Griffon announced that its Board of Directors has authorized a share repurchase program on Wednesday, November 13th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.80, for a total value of $242,400.00. Following the sale, the director now directly owns 30,730 shares in the company, valued at approximately $2,482,984. This trade represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin F. Sullivan sold 9,222 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $75.50, for a total transaction of $696,261.00. Following the transaction, the director now directly owns 41,168 shares of the company’s stock, valued at approximately $3,108,184. This trade represents a 18.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,892 shares of company stock valued at $1,734,296. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Griffon

Hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. increased its position in Griffon by 4.1% in the 4th quarter. Ameritas Investment Partners Inc. now owns 3,934 shares of the conglomerate’s stock valued at $280,000 after acquiring an additional 154 shares during the period. Raymond James Trust N.A. increased its holdings in shares of Griffon by 5.1% during the third quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate’s stock valued at $244,000 after purchasing an additional 168 shares during the period. Optimist Retirement Group LLC raised its stake in shares of Griffon by 5.3% during the fourth quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate’s stock valued at $256,000 after purchasing an additional 181 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Griffon by 4.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,977 shares of the conglomerate’s stock worth $355,000 after purchasing an additional 198 shares during the period. Finally, Keeley Teton Advisors LLC grew its position in Griffon by 5.8% in the 4th quarter. Keeley Teton Advisors LLC now owns 5,500 shares of the conglomerate’s stock valued at $392,000 after buying an additional 300 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

Griffon Company Profile

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.