Griffon (NYSE:GFF) Upgraded to “Sell” by ValuEngine

ValuEngine upgraded shares of Griffon (NYSE:GFF) from a strong sell rating to a sell rating in a research report released on Tuesday, ValuEngine reports.

Several other research analysts also recently weighed in on the company. TheStreet upgraded Griffon from a c+ rating to a b- rating in a report on Wednesday, August 21st. Zacks Investment Research downgraded Griffon from a strong-buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Sidoti boosted their price target on Griffon from $22.00 to $24.00 and gave the company a buy rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Griffon has an average rating of Hold and an average price target of $21.33.

Shares of GFF opened at $20.31 on Tuesday. Griffon has a twelve month low of $9.65 and a twelve month high of $21.61. The stock’s 50 day moving average is $19.51 and its two-hundred day moving average is $17.72. The firm has a market capitalization of $939.76 million, a PE ratio of 18.94 and a beta of 2.14. The company has a current ratio of 2.62, a quick ratio of 1.43 and a debt-to-equity ratio of 2.38.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, August 1st. The conglomerate reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. 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 9.39% and a net margin of 0.91%. On average, sell-side analysts predict that Griffon will post 1.06 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.072 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.42%. Griffon’s payout ratio is 38.16%.

Hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of Griffon by 3.2% in the 1st quarter. First Trust Advisors LP now owns 63,082 shares of the conglomerate’s stock valued at $1,166,000 after purchasing an additional 1,934 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Griffon by 8.0% in the second quarter. Crossmark Global Holdings Inc. now owns 32,610 shares of the conglomerate’s stock valued at $552,000 after acquiring an additional 2,420 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Griffon in the second quarter valued at approximately $193,000. Oregon Public Employees Retirement Fund boosted its holdings in Griffon by 5.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,792 shares of the conglomerate’s stock worth $233,000 after buying an additional 702 shares in the last quarter. Finally, Trust Co. of Vermont bought a new stake in Griffon during the second quarter worth approximately $25,000. Institutional investors and hedge funds own 67.69% 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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