Raymond James Boosts Griffon (NYSE:GFF) Price Target to $75.00

Griffon (NYSE:GFFGet Free Report) had its target price hoisted by analysts at Raymond James from $60.00 to $75.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the conglomerate’s stock. Raymond James’ price objective suggests a potential upside of 26.77% from the company’s previous close.

A number of other brokerages have also commented on GFF. TheStreet upgraded Griffon from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Griffon from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, StockNews.com lowered shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 27th.

Read Our Latest Stock Analysis on Griffon

Griffon Price Performance

NYSE GFF opened at $59.16 on Monday. Griffon has a 1 year low of $25.97 and a 1 year high of $62.45. The stock’s 50-day moving average price is $56.49 and its two-hundred day moving average price is $46.65. The company has a market cap of $3.04 billion, a PE ratio of 42.26 and a beta of 1.39. The company has a current ratio of 2.73, a quick ratio of 1.32 and a debt-to-equity ratio of 4.63.

Griffon (NYSE:GFFGet Free Report) last posted its quarterly earnings data on Wednesday, November 15th. The conglomerate reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. Griffon had a net margin of 2.89% and a return on equity of 60.20%. The firm had revenue of $641.40 million during the quarter, compared to analyst estimates of $653.83 million. During the same quarter last year, the business posted $1.09 EPS. The company’s revenue was down 9.5% on a year-over-year basis. On average, analysts predict that Griffon will post 4.62 EPS for the current year.

Griffon declared that its Board of Directors has approved a share repurchase program on Wednesday, November 15th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the conglomerate to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Griffon

Several large investors have recently modified their holdings of GFF. GAMMA Investing LLC acquired a new position in Griffon during the fourth quarter worth $30,000. Quadrant Capital Group LLC grew its stake in shares of Griffon by 530.3% during the second quarter. Quadrant Capital Group LLC now owns 769 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 647 shares during the last quarter. Quarry LP increased its holdings in shares of Griffon by 931.0% in the first quarter. Quarry LP now owns 1,165 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 1,052 shares in the last quarter. Covestor Ltd increased its stake in shares of Griffon by 128.6% in the 2nd quarter. Covestor Ltd now owns 944 shares of the conglomerate’s stock valued at $38,000 after buying an additional 531 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Griffon by 671.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 557 shares during the period. 73.88% of the stock is currently owned by institutional investors.

Griffon Company Profile

(Get Free Report)

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.

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