Analysts Set Griffon Corporation (NYSE:GFF) Target Price at $98.20

Shares of Griffon Corporation (NYSE:GFF) have received an average recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $98.20.

Several research analysts have weighed in on GFF shares. Wall Street Zen raised Griffon from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft started coverage on Griffon in a research report on Tuesday, April 1st. They issued a “buy” rating and a $91.00 price objective on the stock. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 price objective (up previously from $95.00) on shares of Griffon in a research report on Friday, May 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GFF. New York State Teachers Retirement System lifted its position in shares of Griffon by 0.8% during the 4th quarter. New York State Teachers Retirement System now owns 72,053 shares of the conglomerate’s stock valued at $5,135,000 after buying an additional 565 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Griffon by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 228,792 shares of the conglomerate’s stock valued at $16,306,000 after buying an additional 4,113 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of Griffon during the 4th quarter valued at $276,000. Arcadia Investment Management Corp MI lifted its position in shares of Griffon by 35.1% during the 4th quarter. Arcadia Investment Management Corp MI now owns 23,551 shares of the conglomerate’s stock valued at $1,678,000 after buying an additional 6,125 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Griffon by 11.6% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 14,120 shares of the conglomerate’s stock valued at $1,006,000 after buying an additional 1,462 shares during the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Griffon Stock Up 0.4%

Shares of NYSE:GFF opened at $67.61 on Friday. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.74 and a beta of 1.15. The company has a quick ratio of 1.48, a current ratio of 2.78 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 business’s 50 day moving average is $69.23 and its 200 day moving average is $72.32.

Griffon (NYSE:GFF) last announced its earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.10. The company had revenue of $611.75 million for 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 in the previous year, the firm earned $1.35 earnings per share. On average, sell-side analysts forecast that Griffon will post 5.55 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were given a $0.18 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 1.06%. Griffon’s dividend payout ratio is currently 14.91%.

Griffon Company Profile

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.