Griffon Corporation (NYSE:GFF) Given Average Rating of "Buy" by Brokerages

Shares of Griffon Corporation (NYSE:GFF - Get Free Report) have earned a consensus recommendation of "Buy" from the five brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $98.20.

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

Hedge Funds Weigh In On Griffon

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. McIlrath & Eck LLC boosted its stake 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 purchasing an additional 202 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Griffon by 8,720.0% during the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate's stock valued at $32,000 after buying an additional 436 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Griffon by 151.7% during the second quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate's stock worth $32,000 after purchasing an additional 264 shares during the period. Signaturefd LLC grew its holdings in shares of 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 in the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Griffon by 11,460.0% in the 1st quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock valued at $41,000 after buying an additional 573 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Price Performance

Griffon stock traded down $3.33 during midday trading on Monday, hitting $67.69. 787,513 shares of the company's stock were exchanged, compared to its average volume of 383,091. The company has a debt-to-equity ratio of 7.12, a quick ratio of 1.48 and a current ratio of 2.78. The stock has a 50-day moving average price of $74.76 and a two-hundred day moving average price of $72.87. Griffon has a 52-week low of $56.52 and a 52-week high of $86.73. The company has a market cap of $3.18 billion, a P/E ratio of 14.10, a PEG ratio of 0.90 and a beta of 1.09.

Griffon (NYSE:GFF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The conglomerate reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Griffon had a net margin of 9.06% and a return on equity of 114.46%. The business had revenue of $613.63 million during the quarter, compared to analyst estimates of $649.95 million. During the same period last year, the business posted $1.24 earnings per share. Griffon's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Griffon will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. 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.