Robert W. Baird Raises Griffon (NYSE:GFF) Price Target to $92.00

Griffon (NYSE:GFF) had its price objective boosted by equities research analysts at Robert W. Baird from $84.00 to $92.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the conglomerate’s stock. Robert W. Baird’s price target indicates a potential upside of 41.65% from the company’s previous close.

Several other research firms also recently weighed in on GFF. Stephens restated an “overweight” rating and issued a $85.00 price objective on shares of Griffon in a report on Tuesday, September 10th. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 12th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Griffon has a consensus rating of “Buy” and a consensus target price of $83.50.

Griffon Stock Down 1.0 %

NYSE:GFF opened at $64.95 on Monday. Griffon has a twelve month low of $38.33 and a twelve month high of $77.99. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 17.14 and a beta of 1.29. The stock has a fifty day simple moving average of $66.41 and a 200-day simple moving average of $66.92. 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 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). The firm had revenue of $647.80 million during 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%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Analysts anticipate that Griffon will post 4.87 EPS for the current year.

Insider Buying and Selling at Griffon

In other Griffon news, COO Robert F. Mehmel sold 1,205 shares of Griffon stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $70.11, for a total value of $84,482.55. Following the transaction, the chief operating officer now owns 754,046 shares in the company, valued at $52,866,165.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kevin F. Sullivan sold 12,447 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total transaction of $809,055.00. Following the sale, the director now owns 50,390 shares in the company, valued at approximately $3,275,350. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert F. Mehmel sold 1,205 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $70.11, for a total value of $84,482.55. Following the sale, the chief operating officer now owns 754,046 shares in the company, valued at $52,866,165.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 260,464 shares of company stock worth $17,244,450 over the last quarter. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Griffon

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Griffon by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock worth $432,954,000 after acquiring an additional 38,707 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Griffon by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,379,000 shares of the conglomerate’s stock valued at $88,066,000 after buying an additional 19,644 shares during the last quarter. LSV Asset Management boosted its position in Griffon by 486.0% in the first quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock valued at $66,834,000 after buying an additional 755,773 shares during the last quarter. Renaissance Technologies LLC boosted its position in Griffon by 9.6% in the second quarter. Renaissance Technologies LLC now owns 631,851 shares of the conglomerate’s stock valued at $40,350,000 after buying an additional 55,100 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Griffon by 112.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 283,800 shares of the conglomerate’s stock valued at $18,123,000 after buying an additional 150,000 shares during the last quarter. Hedge funds and other 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.