Griffon (NYSE:GFF) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Griffon (NYSE:GFF) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

GFF has been the subject of a number of other research reports. Stephens raised their price objective on Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a report on Monday, December 29th. Robert W. Baird set a $108.00 price objective on Griffon in a research note on Friday, February 6th. CJS Securities upgraded Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen raised shares of Griffon from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.50.

Griffon Stock Performance

GFF stock opened at $87.74 on Tuesday. The company has a debt-to-equity ratio of 12.36, a quick ratio of 1.27 and a current ratio of 2.55. Griffon has a 1 year low of $63.92 and a 1 year high of $97.58. The stock’s fifty day moving average is $82.24 and its two-hundred day moving average is $77.41. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 95.37, a PEG ratio of 1.49 and a beta of 1.33.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. Griffon had a return on equity of 228.83% and a net margin of 1.76%.The firm had revenue of $649.09 million for the quarter, compared to analysts’ expectations of $618.35 million. During the same quarter last year, the business posted $1.39 EPS. Griffon’s revenue was up 2.6% on a year-over-year basis. On average, research analysts predict that Griffon will post 5.55 EPS for the current year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Friday, February 27th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Griffon’s payout ratio is 95.65%.

Insider Transactions at Griffon

In other Griffon news, SVP Seth L. Kaplan sold 15,000 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $95.44, for a total transaction of $1,431,600.00. Following the completion of the sale, the senior vice president directly owned 119,747 shares in the company, valued at approximately $11,428,653.68. This trade represents a 11.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James W. Sight sold 3,070 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $96.15, for a total transaction of $295,180.50. Following the completion of the sale, the director owned 13,872 shares of the company’s stock, valued at $1,333,792.80. The trade was a 18.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. boosted its holdings in Griffon by 149.6% during the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 211 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Griffon by 151.7% in the second quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock worth $32,000 after buying an additional 264 shares during the last quarter. IFP Advisors Inc raised its stake in Griffon by 8,720.0% in the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 436 shares during the period. Huntington National Bank raised its position in shares of Griffon by 645.0% in the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 387 shares during the period. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Griffon in the fourth quarter worth $34,000. Institutional investors own 73.22% of the company’s stock.

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.