Brokerages Set Griffon Corporation (NYSE:GFF) Price Target at $95.60

Shares of Griffon Corporation (NYSE:GFF) have earned a consensus rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $95.60.

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Griffon from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a report on Monday, December 29th. Stephens increased their price target on Griffon from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 24th. CJS Securities upgraded Griffon to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th.

Griffon Stock Down 0.3%

NYSE GFF opened at $81.52 on Monday. The stock has a 50 day moving average price of $77.77 and a 200-day moving average price of $76.41. Griffon has a one year low of $63.92 and a one year high of $86.11. The company has a market capitalization of $3.80 billion, a P/E ratio of 81.52, a P/E/G ratio of 1.19 and a beta of 1.31. The company has a debt-to-equity ratio of 18.99, a quick ratio of 1.34 and a current ratio of 2.66.

Griffon (NYSE:GFF) last released its quarterly earnings results on Wednesday, November 19th. The conglomerate reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02). Griffon had a net margin of 2.03% and a return on equity of 181.66%. The business had revenue of $662.18 million for the quarter, compared to analysts’ expectations of $631.47 million. During the same period in the previous year, the company earned $1.47 EPS. Griffon’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities analysts predict that Griffon will post 5.55 EPS for the current fiscal year.

Griffon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Friday, November 28th were given a $0.22 dividend. This is an increase from Griffon’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. Griffon’s dividend payout ratio is currently 88.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its stake in Griffon by 151.7% in 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. IFP Advisors Inc grew its holdings in shares of 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 during the last quarter. Huntington National Bank increased its stake in Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock worth $34,000 after buying an additional 387 shares during the period. Osterweis Capital Management Inc. purchased a new position in Griffon in the 2nd quarter worth about $37,000. Finally, McIlrath & Eck LLC lifted its holdings in Griffon by 43.4% during the 3rd quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock valued at $41,000 after buying an additional 163 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.