Griffon (GFF) Gains But Lags Market: What You Should Know
In the latest trading session, Griffon (GFF) closed at $39.93, marking a +0.71% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.06%. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 1.2%.
Prior to today's trading, shares of the garage door and building products maker had gained 2.14% over the past month. This has outpaced the Conglomerates sector's loss of 7.77% and the S&P 500's loss of 3% in that time.
Market participants will be closely following the financial results of Griffon in its upcoming release. It is anticipated that the company will report an EPS of $1.02, marking a 6.42% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $653 million, down 7.89% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Griffon. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Griffon presently features a Zacks Rank of #2 (Buy).
Investors should also note Griffon's current valuation metrics, including its Forward P/E ratio of 9.75. This valuation marks a discount compared to its industry's average Forward P/E of 15.76.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Griffon Corporation (GFF) : Free Stock Analysis Report
