Griffon Corporation (NYSE:GFF) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Griffon Corporation has a consensus recommendation of "Buy" from five research firms, with an average price target of $98.20.
• Institutional investors have significantly increased their holdings in Griffon, with some firms like IFP Advisors growing their positions by 8,720.0% in the second quarter.
• Griffon reported $1.50 EPS for the last quarter, meeting analysts' estimates, despite a 5.3% year-over-year decline in revenue.

Shares of Griffon Corporation (NYSE:GFF - Get Free Report) have earned a consensus recommendation of "Buy" from the five research firms that are presently covering the stock, Marketbeat.com 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 twelve-month price objective among brokerages that have covered the stock in the last year is $98.20.

A number of analysts have recently commented on GFF shares. Robert W. Baird upped their price target on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Wall Street Zen cut Griffon from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th.

Hedge Funds Weigh In On Griffon

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its position in shares of Griffon by 151.7% in the 2nd 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 period. IFP Advisors Inc grew its position in shares of Griffon by 8,720.0% in the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate's stock valued at $32,000 after purchasing an additional 436 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of Griffon in the 2nd quarter valued at approximately $37,000. Signaturefd LLC grew its position in shares of Griffon by 72.9% in the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after purchasing an additional 234 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Griffon by 33.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 142 shares during the period. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Stock Performance

Shares of GFF stock opened at $75.95 on Tuesday. The company has a debt-to-equity ratio of 22.58, a current ratio of 2.70 and a quick ratio of 1.38. The stock has a market cap of $3.54 billion, a PE ratio of 56.68, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. The stock has a 50-day moving average of $77.13 and a 200-day moving average of $72.93. Griffon has a one year low of $62.26 and a one year high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The conglomerate reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. The company had revenue of $613.63 million during the quarter, compared to analysts' expectations of $649.95 million. Griffon had a return on equity of 144.21% and a net margin of 2.78%.Griffon's revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. As a group, sell-side analysts expect that Griffon will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were given a $0.18 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Griffon's payout ratio is currently 53.73%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.