Griffon (NYSE:GFF – Get Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Saturday.
A number of other brokerages also recently issued reports on GFF. Robert W. Baird lowered their price target on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Stephens restated an “overweight” rating and set a $85.00 target price on shares of Griffon in a research note on Tuesday, September 10th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $81.50.
Check Out Our Latest Report on GFF
Griffon Stock Performance
Griffon (NYSE:GFF – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The firm had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $688.94 million. During the same quarter in the previous year, the company earned $1.29 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Sell-side analysts expect that Griffon will post 4.87 EPS for the current fiscal year.
Insider Buying and Selling at Griffon
In related news, COO Robert F. Mehmel sold 1,205 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $70.11, for a total value of $84,482.55. Following the transaction, the chief operating officer now owns 754,046 shares of the company’s stock, valued at approximately $52,866,165.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Griffon news, SVP Seth L. Kaplan sold 4,844 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $339,080.00. Following the completion of the sale, the senior vice president now owns 198,571 shares of the company’s stock, valued at approximately $13,899,970. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert F. Mehmel sold 1,205 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $70.11, for a total value of $84,482.55. Following the completion of the transaction, the chief operating officer now directly owns 754,046 shares in the company, valued at $52,866,165.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,020 shares of company stock valued at $16,722,924. 16.10% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Creative Planning bought a new position in Griffon in the 3rd quarter worth $502,000. Inspire Investing LLC raised its holdings in Griffon by 228.8% during the third quarter. Inspire Investing LLC now owns 18,184 shares of the conglomerate’s stock valued at $1,273,000 after acquiring an additional 12,653 shares during the period. Ritholtz Wealth Management lifted its position in shares of Griffon by 5.0% in the third quarter. Ritholtz Wealth Management now owns 3,913 shares of the conglomerate’s stock valued at $274,000 after acquiring an additional 187 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Griffon by 22.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,109 shares of the conglomerate’s stock worth $3,437,000 after purchasing an additional 9,000 shares in the last quarter. Finally, CWM LLC lifted its holdings in Griffon by 1,024.8% in the 3rd quarter. CWM LLC now owns 1,136 shares of the conglomerate’s stock worth $80,000 after purchasing an additional 1,035 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors.
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.
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