Griffon Co. (NYSE:GFF) Receives $81.50 Consensus Price Target from Analysts

Griffon Co. (NYSE:GFF) has been given a consensus rating of “Buy” by the four research firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $81.50.

GFF has been the subject of several analyst reports. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Friday. Robert W. Baird reduced their price target on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Stephens reissued an “overweight” rating and set a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th.

Griffon Price Performance

Shares of NYSE GFF opened at $68.35 on Friday. Griffon has a fifty-two week low of $38.33 and a fifty-two week high of $77.99. The company has a 50 day simple moving average of $65.90 and a two-hundred day simple moving average of $67.25. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 18.03 and a beta of 1.29. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.07). The business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $688.94 million. Griffon had a net margin of 7.27% and a return on equity of 96.05%. Griffon’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. Analysts expect that Griffon will post 4.87 EPS for the current fiscal year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.88%. The ex-dividend date was Wednesday, August 28th. Griffon’s dividend payout ratio is currently 15.83%.

Insider Buying and Selling

In related news, Director Kevin F. Sullivan sold 12,447 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total value of $809,055.00. Following the sale, the director now owns 50,390 shares in the company, valued at approximately $3,275,350. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kevin F. Sullivan sold 12,447 shares of Griffon stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total transaction of $809,055.00. Following the transaction, the director now owns 50,390 shares in the company, valued at $3,275,350. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ronald J. Kramer sold 100,000 shares of Griffon stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following the transaction, the chief executive officer now owns 2,260,746 shares in the company, valued at $140,754,045.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,020 shares of company stock worth $16,722,924. 16.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC purchased a new position in shares of Griffon during the 4th quarter worth $35,000. Quarry LP raised its position in shares of Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 386 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Griffon during the 2nd quarter valued at $55,000. GAMMA Investing LLC raised its position in shares of Griffon by 65.1% during the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 332 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in shares of Griffon during the 1st quarter valued at $65,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.

About Griffon

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.