Brokerages Set Griffon Corporation (NYSE:GFF) PT at $98.20

Griffon Corporation (NYSE:GFF - Get Free Report) has earned an average recommendation of "Buy" from the five analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $98.20.

Several research analysts have recently weighed in on the company. Wall Street Zen raised Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Robert W. Baird boosted their price objective on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $100.00 price target (up from $95.00) on shares of Griffon in a research note on Friday, May 9th.

Griffon Trading Up 0.8%

GFF stock traded up $0.64 during midday trading on Monday, reaching $82.19. The stock had a trading volume of 417,893 shares, compared to its average volume of 293,835. Griffon has a twelve month low of $55.01 and a twelve month high of $86.73. The business has a fifty day simple moving average of $74.44 and a two-hundred day simple moving average of $72.82. The company has a quick ratio of 1.48, a current ratio of 2.78 and a debt-to-equity ratio of 7.12. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.89 and a beta of 1.09.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.10. The business had revenue of $611.75 million during the quarter, compared to analysts' expectations of $618.23 million. Griffon had a return on equity of 114.46% and a net margin of 9.06%. Griffon's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $1.35 earnings per share. As a group, research analysts expect 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 given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, May 30th. Griffon's dividend payout ratio (DPR) is presently 14.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. McIlrath & Eck LLC raised its stake in shares of Griffon by 116.1% during the 4th quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock worth $27,000 after purchasing an additional 202 shares in the last quarter. IFP Advisors Inc boosted its stake in 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 in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in 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 buying an additional 264 shares during the last quarter. Signaturefd LLC boosted its position in shares of Griffon by 72.9% during the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock worth $40,000 after purchasing an additional 234 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in shares of Griffon by 11,460.0% during the first quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock worth $41,000 after purchasing an additional 573 shares during the period. 73.22% of the stock is owned by institutional investors and hedge funds.

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.