Griffon (NYSE:GFF) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Griffon (NYSE:GFF - Get Free Report) had its price target upped by investment analysts at Robert W. Baird from $92.00 to $100.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the conglomerate's stock. Robert W. Baird's price target indicates a potential upside of 22.77% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $100.00 price target (up previously from $95.00) on shares of Griffon in a research report on Friday, May 9th. Wall Street Zen raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Griffon in a report on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price target on the stock. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Griffon currently has a consensus rating of "Strong Buy" and an average price target of $98.20.

Griffon Stock Up 4.5%

NYSE:GFF traded up $3.50 on Tuesday, reaching $81.45. 298,718 shares of the stock traded hands, compared to its average volume of 408,917. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.85 and a beta of 1.14. The company has a current ratio of 2.78, a quick ratio of 1.48 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. The company's fifty day simple moving average is $72.15 and its 200 day simple moving average is $72.19.

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

Hedge Funds Weigh In On Griffon

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