Griffon (NYSE:GFF) Announces Quarterly Earnings Results

Griffon (NYSE:GFF) posted its earnings results on Thursday. The conglomerate reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03, Bloomberg Earnings reports. The company had revenue of $574.97 million for the quarter, compared to analyst estimates of $544.20 million. Griffon had a return on equity of 9.03% and a net margin of 0.57%.

Shares of GFF traded up $3.27 during trading hours on Friday, reaching $18.82. 535,905 shares of the company traded hands, compared to its average volume of 97,799. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.70 and a quick ratio of 1.45. The company has a market cap of $765.19 million, a PE ratio of 24.76 and a beta of 2.21. Griffon has a fifty-two week low of $9.65 and a fifty-two week high of $19.86. The company’s fifty day moving average price is $16.35.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new stake in shares of Griffon during the second quarter valued at $25,000. Versant Capital Management Inc boosted its stake in shares of Griffon by 173.7% during the first quarter. Versant Capital Management Inc now owns 1,626 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 1,032 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Griffon by 132.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,008 shares of the conglomerate’s stock valued at $36,000 after acquiring an additional 1,146 shares during the last quarter. Quantamental Technologies LLC boosted its stake in shares of Griffon by 66.7% during the first quarter. Quantamental Technologies LLC now owns 3,000 shares of the conglomerate’s stock valued at $55,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Griffon by 23.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,003 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 758 shares during the last quarter. 66.92% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on GFF shares. Zacks Investment Research lowered Griffon from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Robert W. Baird set a $18.00 price objective on Griffon and gave the company a “hold” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Griffon has a consensus rating of “Hold” and a consensus target price of $18.20.

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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Earnings History for Griffon (NYSE:GFF)

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