Griffon (NYSE:GFF) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Griffon Corporation (NYSE:GFF) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $75.55 and traded as high as $77.99. Griffon shares last traded at $77.5310, with a volume of 268,518 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GFF shares. Stephens lifted their target price on shares of Griffon from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Zacks Research downgraded shares of Griffon from a “hold” rating to a “strong sell” rating in a report on Friday, December 5th. CJS Securities raised Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $95.60.

Griffon Trading Up 4.1%

The stock has a market capitalization of $3.58 billion, a P/E ratio of 77.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.31. The stock’s fifty day moving average price is $73.89 and its two-hundred day moving average price is $75.55. The company has a current ratio of 2.66, a quick ratio of 1.34 and a debt-to-equity ratio of 18.99.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, November 19th. The conglomerate reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02). The business had revenue of $662.18 million during the quarter, compared to analysts’ expectations of $631.47 million. Griffon had a return on equity of 181.66% and a net margin of 2.03%.Griffon’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.47 EPS. Equities research analysts forecast that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th were issued a $0.22 dividend. This is an increase from Griffon’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 28th. Griffon’s dividend payout ratio (DPR) is presently 88.00%.

Hedge Funds Weigh In On Griffon

Several institutional investors and hedge funds have recently bought and sold shares of GFF. Caitong International Asset Management Co. Ltd lifted its position in Griffon by 151.7% in the second quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 264 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Griffon by 8,720.0% in the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 436 shares during the last quarter. Huntington National Bank increased its stake in shares of Griffon by 645.0% in the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after buying an additional 387 shares during the period. Osterweis Capital Management Inc. bought a new stake in Griffon during the 2nd quarter valued at $37,000. Finally, McIlrath & Eck LLC raised its holdings in Griffon by 43.4% during the 3rd quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock valued at $41,000 after buying an additional 163 shares during the last quarter. 73.22% of the stock is currently owned by institutional investors.

Griffon Company Profile

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.