Griffon (GFF) Ascends But Remains Behind Market: Some Facts to Note
Griffon (GFF) closed the latest trading day at $59.05, indicating a +0.15% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.57%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, added 0.75%.
The garage door and building products maker's stock has climbed by 11.86% in the past month, exceeding the Conglomerates sector's gain of 0.1% and the S&P 500's gain of 3.4%.
The investment community will be paying close attention to the earnings performance of Griffon in its upcoming release. On that day, Griffon is projected to report earnings of $0.78 per share, which would represent a year-over-year decline of 9.3%. Meanwhile, our latest consensus estimate is calling for revenue of $597.26 million, down 8.03% from the prior-year quarter.
GFF's full-year Zacks Consensus Estimates are calling for earnings of $4.62 per share and revenue of $2.6 billion. These results would represent year-over-year changes of +1.76% and -3.16%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Griffon. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Griffon is currently a Zacks Rank #1 (Strong Buy).
From a valuation perspective, Griffon is currently exchanging hands at a Forward P/E ratio of 12.75. This represents a discount compared to its industry's average Forward P/E of 15.28.
The Diversified Operations industry is part of the Conglomerates sector. At present, this industry carries a Zacks Industry Rank of 59, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Griffon Corporation (GFF) : Free Stock Analysis Report
