Griffon (NYSE:GFF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $31.00 price target on the conglomerate’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.67% from the stock’s previous close.

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. “

Separately, Raymond James lifted their price objective on shares of Griffon from $27.00 to $33.00 and gave the company an “outperform” rating in a report on Friday. Five research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $30.60.

GFF traded up $0.39 during trading on Tuesday, reaching $28.01. The company had a trading volume of 266,441 shares, compared to its average volume of 249,878. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.48 and a quick ratio of 1.56. Griffon has a 12 month low of $13.49 and a 12 month high of $28.47. The business’s fifty day moving average price is $27.13 and its 200 day moving average price is $23.75. The company has a market cap of $1.58 billion, a P/E ratio of 23.94 and a beta of 2.00.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Thursday, April 29th. The conglomerate reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.16. Griffon had a net margin of 2.22% and a return on equity of 13.40%. As a group, sell-side analysts predict that Griffon will post 1.53 EPS for the current fiscal year.

In other Griffon news, SVP Seth L. Kaplan sold 13,251 shares of the company’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $24.36, for a total transaction of $322,794.36. Following the sale, the senior vice president now directly owns 248,298 shares of the company’s stock, valued at $6,048,539.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Seth L. Kaplan sold 9,737 shares of the stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $23.62, for a total transaction of $229,987.94. Following the completion of the transaction, the senior vice president now directly owns 248,298 shares in the company, valued at $5,864,798.76. The disclosure for this sale can be found here. Corporate insiders own 9.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. SOA Wealth Advisors LLC. bought a new position in shares of Griffon in the fourth quarter valued at about $27,000. Vantage Consulting Group Inc acquired a new position in shares of Griffon in the fourth quarter valued at about $42,000. Veriti Management LLC acquired a new position in shares of Griffon in the fourth quarter valued at about $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Griffon by 46.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,980 shares of the conglomerate’s stock valued at $122,000 after acquiring an additional 1,909 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new position in shares of Griffon in the fourth quarter valued at about $153,000. 73.62% of the stock is currently owned by institutional investors.

About Griffon

Griffon Corporation, through its subsidiaries, engages in the consumer and professional products, home and building products, and defense electronics businesses primarily in the United States, Europe, Canada, Australia, the United Kingdom, Mexico, and China. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools.

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