Analysts Set Griffon Corporation (NYSE:GFF) Target Price at $115.00

Griffon Corporation (NYSE:GFF) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $115.00.

GFF has been the subject of a number of research analyst reports. Stephens upped their price target on shares of Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 price target on shares of Griffon in a report on Friday, May 8th.

Institutional Investors Weigh In On Griffon

A number of institutional investors and hedge funds have recently bought and sold shares of GFF. Hantz Financial Services Inc. lifted its holdings in Griffon by 149.6% in the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in Griffon during the first quarter valued at about $29,000. Huntington National Bank lifted its stake in Griffon by 645.0% during the third quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after buying an additional 387 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Griffon during the fourth quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Griffon by 362.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after buying an additional 388 shares in the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Griffon Stock Performance

Shares of GFF opened at $85.91 on Friday. The firm has a 50-day moving average price of $83.37 and a 200 day moving average price of $80.66. The firm has a market capitalization of $3.94 billion, a PE ratio of 660.92, a P/E/G ratio of 1.44 and a beta of 1.42. The company has a quick ratio of 2.43, a current ratio of 2.86 and a debt-to-equity ratio of 14.77. Griffon has a 52-week low of $65.01 and a 52-week high of $97.58.

Griffon (NYSE:GFF) last announced its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The firm had revenue of $421.86 million during the quarter, compared to analyst estimates of $414.63 million. During the same quarter in the prior year, the firm posted $1.23 EPS. Griffon’s revenue was down 31.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Griffon will post 5.17 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Griffon’s dividend payout ratio is presently 676.92%.

About Griffon

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.