Brokerages Set Griffon Co. (NYSE:GFF) Price Target at $83.50

Shares of Griffon Co. (NYSE:GFF) have been assigned a consensus rating of “Buy” from the four analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $83.50.

A number of equities research analysts recently commented on GFF shares. Robert W. Baird increased their price objective on shares of Griffon from $84.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Stephens reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Griffon in a report on Tuesday, September 10th. Finally, StockNews.com cut shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 30th.

Insiders Place Their Bets

In other Griffon news, CEO Ronald J. Kramer sold 6,532 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $70.06, for a total transaction of $457,631.92. Following the transaction, the chief executive officer now owns 2,169,667 shares of the company’s stock, valued at $152,006,870.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 of the company’s stock, valued at $140,754,045.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ronald J. Kramer sold 6,532 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $70.06, for a total transaction of $457,631.92. Following the sale, the chief executive officer now directly owns 2,169,667 shares of the company’s stock, valued at $152,006,870.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 260,464 shares of company stock valued at $17,244,450. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP increased its stake in Griffon by 98.7% during the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock worth $50,000 after acquiring an additional 386 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Griffon during the 2nd quarter worth approximately $55,000. Plato Investment Management Ltd purchased a new position in Griffon in the first quarter valued at approximately $65,000. DekaBank Deutsche Girozentrale acquired a new position in Griffon during the second quarter valued at approximately $70,000. Finally, GAMMA Investing LLC grew its stake in Griffon by 56.9% during the third quarter. GAMMA Investing LLC now owns 1,133 shares of the conglomerate’s stock worth $79,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.

Griffon Stock Performance

NYSE GFF opened at $63.32 on Wednesday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 16.98 and a beta of 1.31. The business’s 50 day moving average is $66.43 and its two-hundred day moving average is $66.59. Griffon has a 12-month low of $41.08 and a 12-month high of $77.99. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71.

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

Griffon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. Griffon’s dividend payout ratio (DPR) is presently 16.09%.

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.