Griffon (NYSE:GFF) Upgraded at StockNews.com

Griffon (NYSE:GFF) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

GFF has been the subject of a number of other reports. Robert W. Baird upped their target price on shares of Griffon from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Stephens raised their target price on Griffon from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Raymond James reissued a “strong-buy” rating and set a $95.00 price target (up previously from $92.00) on shares of Griffon in a report on Thursday, February 6th. Finally, Loop Capital raised Griffon to a “strong-buy” rating in a research note on Friday, February 14th. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus price target of $98.75.

Griffon Stock Performance

Shares of NYSE GFF traded down $0.11 during midday trading on Wednesday, hitting $68.92. 371,173 shares of the stock traded hands, compared to its average volume of 351,906. The firm has a market capitalization of $3.28 billion, a P/E ratio of 14.07 and a beta of 1.40. Griffon has a one year low of $55.01 and a one year high of $86.73. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. The firm has a 50-day moving average of $74.47 and a two-hundred day moving average of $72.16.

Griffon (NYSE:GFF) last posted its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. On average, equities analysts forecast that Griffon will post 5.55 EPS for the current fiscal year.

Griffon announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 13th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the conglomerate to repurchase up to 10.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Griffon

In related news, Director Cheryl L. Turnbull sold 3,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the sale, the director now owns 30,730 shares of the company’s stock, valued at $2,482,984. This represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.20% of the company’s stock.

Institutional Trading of Griffon

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Griffon in the 4th quarter valued at $4,960,000. Mackenzie Financial Corp grew its holdings in shares of Griffon by 154.6% in the fourth quarter. Mackenzie Financial Corp now owns 25,403 shares of the conglomerate’s stock worth $1,810,000 after purchasing an additional 15,426 shares during the last quarter. McIlrath & Eck LLC increased its stake in Griffon by 116.1% in the 4th quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate’s stock worth $27,000 after buying an additional 202 shares during the period. PharVision Advisers LLC bought a new stake in Griffon during the 4th quarter valued at about $259,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Griffon by 22.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,271 shares of the conglomerate’s stock valued at $5,008,000 after buying an additional 12,988 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

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.