Key Points
- COO Robert Mehmel sold 7,743 Griffon shares for about $833,302 at an average price of $107.62 under a pre-arranged Rule 10b5-1 plan. He retained 715,289 shares after the sale.
- Griffon’s latest reported quarter beat analyst expectations, with EPS of $1.51 versus $1.34 expected and revenue of $481.4 million versus $457.7 million expected; revenue was nevertheless down 21.5% year over year.
- Analysts’ consensus rating is Buy, with an average price target of $122.50. Recent views ranged from a Hold downgrade by Zacks Research to an Overweight rating and $120 target from Stephens.
Griffon Corporation (NYSE:GFF - Get Free Report) COO Robert Mehmel sold 7,743 shares of the firm's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $107.62, for a total transaction of $833,301.66. Following the completion of the transaction, the chief operating officer directly owned 715,289 shares in the company, valued at $76,979,402.18. This represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Griffon Trading Down 1.2%
Shares of NYSE GFF opened at $101.18 on Friday. Griffon Corporation has a 12 month low of $65.01 and a 12 month high of $109.00. The company has a quick ratio of 1.79, a current ratio of 2.41 and a debt-to-equity ratio of 9.75. The business has a fifty day simple moving average of $96.25 and a 200-day simple moving average of $89.78. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 25.81 and a beta of 1.50.
Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.17. Griffon had a net margin of 8.08% and a return on equity of 249.31%. The business had revenue of $481.37 million during the quarter, compared to analysts' expectations of $457.70 million. During the same quarter in the prior year, the business posted $1.50 earnings per share. Griffon's revenue was down 21.5% compared to the same quarter last year. Sell-side analysts predict that Griffon Corporation will post 5.40 EPS for the current year.
Hedge Funds Weigh In On Griffon
A number of large investors have recently added to or reduced their stakes in GFF. Integrated Wealth Concepts LLC bought a new position in shares of Griffon during the second quarter worth about $31,000. Scarborough Advisors LLC purchased a new position in Griffon during the first quarter worth $29,000. Ancora Advisors LLC purchased a new stake in Griffon during the second quarter valued at approximately $40,000. Fortitude Family Office LLC raised its stake in shares of Griffon by 2,768.8% during the 3rd quarter. Fortitude Family Office LLC now owns 459 shares of the conglomerate's stock worth $43,000 after buying an additional 443 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Griffon during the second quarter worth about $53,000. Institutional investors own 73.22% of the company's stock.
Analysts Set New Price Targets
GFF has been the topic of several research reports. Stephens boosted their price objective on shares of Griffon from $115.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Robert W. Baird set a $125.00 target price on Griffon in a research note on Thursday, August 6th. Zacks Research cut Griffon from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 12th. Finally, Weiss Ratings upgraded Griffon from a "hold (c-)" rating to a "buy (b)" rating in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $122.50.
Check Out Our Latest Report on Griffon
About Griffon
(
Get Free Report)
Griffon Corporation (NYSE:GFF) is a diversified manufacturer and holding company that develops, manufactures and distributes products for the home, building and consumer markets. The company operates through its Home and Building Products and Consumer and Professional Products businesses.
Its Home and Building Products operations include garage doors, rolling steel doors, security grilles, shutters and related building products sold under brands such as Clopay, Cornell, Cookson and Wayne Dalton.
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