Griffon (GFF) Stock Moves -0.72%: What You Should Know
In the latest market close, Griffon (GFF) reached $38.77, with a -0.72% movement compared to the previous day. This change was narrower than the S&P 500's 1.43% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 2.43%.
Coming into today, shares of the garage door and building products maker had lost 0.15% in the past month. In that same time, the Conglomerates sector lost 7.48%, while the S&P 500 lost 1.55%.
The investment community will be closely monitoring the performance of Griffon in its forthcoming earnings report. The company is forecasted to report an EPS of $1.02, showcasing a 6.42% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $653 million, down 7.89% from the prior-year quarter.
Any recent changes to analyst estimates for Griffon should also be noted by investors. These revisions help to show the ever-changing nature 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Griffon currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Griffon is currently trading at a Forward P/E ratio of 9.61. For comparison, its industry has an average Forward P/E of 15.76, which means Griffon is trading at a discount to the group.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Griffon Corporation (GFF) : Free Stock Analysis Report
