Griffon Corporation (NYSE:GFF) Receives $98.20 Consensus Target Price from Brokerages

Griffon Corporation (NYSE:GFF - Get Free Report) has been assigned a consensus rating of "Buy" from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $98.20.

GFF has been the topic of a number of recent analyst reports. Raymond James Financial restated a "strong-buy" rating and set a $100.00 price target (up previously from $95.00) on shares of Griffon in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Griffon in a report on Tuesday, April 1st. They issued a "buy" rating and a $91.00 target price for the company. Finally, Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th.

Griffon Price Performance

NYSE GFF traded up $1.18 on Thursday, reaching $79.75. 335,310 shares of the stock traded hands, compared to its average volume of 411,779. The firm's fifty day simple moving average is $71.03 and its 200 day simple moving average is $71.93. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 0.84 and a beta of 1.14. The company has a quick ratio of 1.48, a current ratio of 2.78 and a debt-to-equity ratio of 7.12. Griffon has a 12 month low of $55.01 and a 12 month high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, beating the consensus estimate of $1.13 by $0.10. The business had revenue of $611.75 million during the quarter, compared to the consensus estimate of $618.23 million. Griffon had a return on equity of 114.46% and a net margin of 9.06%. Griffon's revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.35 earnings per share. As a group, research analysts predict that Griffon will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, May 30th. Griffon's dividend payout ratio (DPR) is presently 14.91%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in Griffon during the first quarter valued at approximately $53,994,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Griffon by 95,382.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate's stock valued at $44,505,000 after purchasing an additional 623,803 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Griffon in the 4th quarter valued at $43,325,000. Nuveen LLC acquired a new stake in shares of Griffon in the 1st quarter valued at $22,108,000. Finally, Norges Bank acquired a new position in Griffon during the fourth quarter worth $21,451,000. Hedge funds and other institutional investors own 73.22% of the company's stock.

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.