Griffon Co. (NYSE:GFF) Receives $98.20 Average Target Price from Brokerages

Shares of Griffon Co. (NYSE:GFF - Get Free Report) have been given an average rating of "Buy" by the five brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $98.20.

GFF has been the topic of a number of research reports. Raymond James reaffirmed a "strong-buy" rating and issued a $100.00 price objective (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Wall Street Zen raised Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Stephens lifted their price objective on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Loop Capital raised Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 target price on the stock.

Hedge Funds Weigh In On Griffon

Several large investors have recently modified their holdings of the stock. McIlrath & Eck LLC boosted its holdings in Griffon by 116.1% during the 4th quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after acquiring an additional 202 shares during the period. New Age Alpha Advisors LLC purchased a new position in Griffon during the 4th quarter valued at $30,000. Grove Bank & Trust purchased a new position in Griffon during the 4th quarter valued at $33,000. R Squared Ltd purchased a new position in Griffon during the 4th quarter valued at $37,000. Finally, Signaturefd LLC boosted its holdings in Griffon by 72.9% during the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 234 shares during the period. Institutional investors own 73.22% of the company's stock.

Griffon Price Performance

NYSE:GFF traded down $0.50 during trading hours on Wednesday, reaching $67.13. The stock had a trading volume of 314,447 shares, compared to its average volume of 441,589. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. Griffon has a 52 week low of $55.01 and a 52 week high of $86.73. The company has a 50 day moving average price of $69.89 and a two-hundred day moving average price of $73.49. The stock has a market capitalization of $3.16 billion, a PE ratio of 13.70 and a beta of 1.17.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.10. Griffon had a return on equity of 120.61% and a net margin of 9.13%. The business had revenue of $611.75 million for the quarter, compared to the consensus estimate of $618.23 million. During the same quarter in the previous year, the company posted $1.35 EPS. The company's revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Griffon will post 5.55 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, May 30th. Griffon's dividend payout ratio is currently 14.91%.

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.