Griffon (NYSE:GFF) posted its earnings results on Thursday. The conglomerate reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03, Bloomberg Earnings reports. The company had revenue of $574.97 million for the quarter, compared to analyst estimates of $544.20 million. Griffon had a return on equity of 9.03% and a net margin of 0.57%.
Griffon stock traded up $3.27 during mid-day trading on Friday, reaching $18.82. 535,905 shares of the company’s stock were exchanged, compared to its average volume of 97,799. The business has a fifty day simple moving average of $16.35. The company has a market capitalization of $765.19 million, a price-to-earnings ratio of 24.76 and a beta of 2.21. Griffon has a one year low of $9.65 and a one year high of $19.86. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.70 and a quick ratio of 1.45.
A number of institutional investors have recently modified their holdings of GFF. Trust Co. of Vermont bought a new stake in Griffon during the second quarter worth $25,000. Versant Capital Management Inc increased its position in Griffon by 173.7% in the first quarter. Versant Capital Management Inc now owns 1,626 shares of the conglomerate’s stock worth $30,000 after buying an additional 1,032 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Griffon by 132.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,008 shares of the conglomerate’s stock worth $36,000 after buying an additional 1,146 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Griffon by 23.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,003 shares of the conglomerate’s stock worth $42,000 after buying an additional 758 shares during the last quarter. Finally, Quantamental Technologies LLC increased its position in Griffon by 66.7% in the first quarter. Quantamental Technologies LLC now owns 3,000 shares of the conglomerate’s stock worth $55,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 66.92% of the company’s stock.
A number of brokerages recently commented on GFF. Robert W. Baird set a $18.00 price target on Griffon and gave the stock a “hold” rating in a report on Monday, April 22nd. Zacks Investment Research lowered Griffon from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.20.
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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