Griffon (NYSE:GFF) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Griffon (NYSE:GFF) from a hold rating to a sell rating in a report released on Monday morning, Zacks.com reports.

According to Zacks, “Griffon Corporation ( GFF ) is a diversified management and holding company conducting business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital. Griffon currently conducts its operations through three reportable segments: Home & Building Product, Telephonics Corporation and Clopay Plastic Products. Griffon Corporation is listed on the New York Stock Exchanges and trades under the symbol GFF. “

Other equities research analysts also recently issued reports about the company. ValuEngine raised Griffon from a strong sell rating to a sell rating in a report on Tuesday, October 15th. Sidoti increased their price target on Griffon from $24.00 to $27.00 and gave the stock a buy rating in a report on Thursday, November 14th. Finally, TheStreet raised Griffon from a c+ rating to a b- rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Griffon currently has an average rating of Hold and a consensus price target of $22.33.

Shares of GFF stock traded down $0.38 during trading hours on Monday, hitting $21.67. The stock had a trading volume of 253 shares, compared to its average volume of 185,816. The company has a debt-to-equity ratio of 2.29, a current ratio of 2.37 and a quick ratio of 1.24. The stock’s 50 day moving average is $21.11 and its 200 day moving average is $18.08. Griffon has a twelve month low of $9.65 and a twelve month high of $25.50. The firm has a market capitalization of $1.05 billion, a PE ratio of 20.42 and a beta of 2.13.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, November 13th. The conglomerate reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.07. Griffon had a return on equity of 9.69% and a net margin of 1.69%. The firm had revenue of $574.16 million during the quarter, compared to the consensus estimate of $570.10 million. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts predict that Griffon will post 1.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This is an increase from Griffon’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.38%. Griffon’s dividend payout ratio (DPR) is currently 26.85%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mason Street Advisors LLC lifted its holdings in shares of Griffon by 25.1% during the third quarter. Mason Street Advisors LLC now owns 14,461 shares of the conglomerate’s stock worth $303,000 after purchasing an additional 2,901 shares during the period. Tower Research Capital LLC TRC raised its position in Griffon by 719.2% in the third quarter. Tower Research Capital LLC TRC now owns 9,691 shares of the conglomerate’s stock worth $203,000 after acquiring an additional 8,508 shares in the last quarter. SG Americas Securities LLC purchased a new position in Griffon in the third quarter worth $128,000. Teton Advisors Inc. raised its position in Griffon by 1.0% in the third quarter. Teton Advisors Inc. now owns 516,579 shares of the conglomerate’s stock worth $10,833,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in Griffon by 23.3% in the third quarter. Texas Permanent School Fund now owns 28,988 shares of the conglomerate’s stock worth $608,000 after acquiring an additional 5,484 shares in the last quarter. 67.62% of the stock is owned by hedge funds and other institutional investors.

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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