Griffon (NYSE:GFF) Upgraded at Zacks Research

Zacks Research upgraded shares of Griffon (NYSE:GFF) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

GFF has been the topic of a number of other research reports. Stephens raised their price target on Griffon from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Wall Street Zen upgraded Griffon from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. CJS Securities upgraded shares of Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Griffon presently has a consensus rating of “Buy” and an average price target of $95.60.

Griffon Stock Up 3.6%

Shares of NYSE GFF opened at $85.59 on Monday. The business has a 50-day moving average price of $75.86 and a 200 day moving average price of $76.17. The stock has a market cap of $3.99 billion, a PE ratio of 85.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.31. The company has a quick ratio of 1.34, a current ratio of 2.66 and a debt-to-equity ratio of 18.99. Griffon has a 52-week low of $63.92 and a 52-week high of $86.03.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, November 19th. The conglomerate reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02). The firm had revenue of $662.18 million during the quarter, compared to analysts’ expectations of $631.47 million. Griffon had a net margin of 2.03% and a return on equity of 181.66%. Griffon’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 EPS. Equities research analysts forecast that Griffon will post 5.55 earnings per share for the current year.

Griffon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th were paid a dividend of $0.22 per share. This is a positive change from Griffon’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. Griffon’s dividend payout ratio is 88.00%.

Hedge Funds Weigh In On Griffon

A number of institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in shares of Griffon by 15.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,040 shares of the conglomerate’s stock valued at $79,000 after acquiring an additional 142 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Griffon by 33.0% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 142 shares during the period. Equitable Holdings Inc. grew its position in shares of Griffon by 4.0% in the third quarter. Equitable Holdings Inc. now owns 3,811 shares of the conglomerate’s stock valued at $290,000 after purchasing an additional 148 shares during the period. McIlrath & Eck LLC increased its stake in Griffon by 43.4% in the third quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in Griffon by 12.0% during the fourth quarter. Trust Co. of Vermont now owns 1,680 shares of the conglomerate’s stock worth $124,000 after buying an additional 180 shares during the period. 73.22% of the stock is owned by institutional investors and hedge funds.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.