Griffon (NYSE:GFF) Price Target Raised to $84.00

Griffon (NYSE:GFF) had its price objective hoisted by Robert W. Baird from $82.00 to $84.00 in a research note released on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the conglomerate’s stock.

A number of other research firms have also weighed in on GFF. Raymond James raised their price objective on shares of Griffon from $60.00 to $75.00 and gave the company a strong-buy rating in a research note on Monday, February 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Griffon from $72.00 to $82.00 and gave the company a buy rating in a research note on Monday, January 22nd. Finally, StockNews.com lowered shares of Griffon from a strong-buy rating to a buy rating in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $69.50.

Griffon Trading Up 1.2 %

NYSE:GFF opened at $65.97 on Thursday. Griffon has a 12 month low of $25.97 and a 12 month high of $75.18. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 49.23 and a beta of 1.41. The firm has a fifty day simple moving average of $69.71 and a two-hundred day simple moving average of $57.50. The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 5.02.

Griffon (NYSE:GFF) last released its quarterly earnings data on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The firm had revenue of $643.20 million for the quarter, compared to analyst estimates of $595.87 million. During the same period last year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts expect that Griffon will post 4.52 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.91%. The ex-dividend date was Wednesday, February 28th. Griffon’s dividend payout ratio is 44.78%.

Insiders Place Their Bets

In other Griffon news, Director James W. Sight sold 2,000 shares of Griffon stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $67.38, for a total value of $134,760.00. Following the sale, the director now owns 18,843 shares of the company’s stock, valued at $1,269,641.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 16.10% of the company’s stock.

Institutional Trading of Griffon

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in Griffon in the fourth quarter worth about $30,000. Scarborough Advisors LLC bought a new stake in Griffon in the fourth quarter worth about $35,000. Quarry LP increased its stake in shares of Griffon by 931.0% in the first quarter. Quarry LP now owns 1,165 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 1,052 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Griffon by 671.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 557 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Griffon by 64.5% in the first quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock worth $55,000 after purchasing an additional 1,080 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

Griffon Company Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.