Griffon (NYSE:GFF) PT Raised to $84.00 at Robert W. Baird

Griffon (NYSE:GFF) had its price objective raised by investment analysts at Robert W. Baird from $82.00 to $84.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the conglomerate’s stock. Robert W. Baird’s price target would indicate a potential upside of 27.33% from the company’s previous close.

A number of other equities analysts have also recently issued reports on GFF. Deutsche Bank Aktiengesellschaft raised their target price on shares of Griffon from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Raymond James raised their target price on shares of Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Monday, February 5th. Finally, StockNews.com cut Griffon from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Griffon presently has an average rating of “Buy” and a consensus target price of $69.50.

Griffon Stock Up 1.2 %

NYSE:GFF opened at $65.97 on Thursday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 49.23 and a beta of 1.41. Griffon has a one year low of $25.97 and a one year high of $75.18. The stock has a 50-day simple moving average of $69.71 and a 200 day simple moving average of $57.38. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46.

Griffon (NYSE:GFF) last issued its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The firm had revenue of $643.20 million for the quarter, compared to analysts’ expectations of $595.87 million. During the same quarter last year, the company posted $0.86 earnings per share. Griffon’s revenue was down 1.0% on a year-over-year basis. Sell-side analysts predict that Griffon will post 4.52 EPS for the current fiscal year.

Insider Activity

In related news, Director James W. Sight sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $67.38, for a total transaction of $134,760.00. Following the transaction, the director now owns 18,843 shares in the company, valued at $1,269,641.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Griffon by 2.4% during the first quarter. BlackRock Inc. now owns 7,674,318 shares of the conglomerate’s stock valued at $153,717,000 after acquiring an additional 181,416 shares during the period. Vanguard Group Inc. increased its stake in shares of Griffon by 1.3% during the third quarter. Vanguard Group Inc. now owns 5,952,411 shares of the conglomerate’s stock valued at $236,132,000 after acquiring an additional 77,058 shares during the period. State Street Corp increased its stake in shares of Griffon by 4.9% during the first quarter. State Street Corp now owns 1,929,225 shares of the conglomerate’s stock valued at $38,642,000 after acquiring an additional 90,502 shares during the period. Pacer Advisors Inc. grew its position in Griffon by 22.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,598,353 shares of the conglomerate’s stock worth $97,420,000 after buying an additional 289,208 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Griffon by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,354,467 shares of the conglomerate’s stock worth $82,557,000 after buying an additional 30,710 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

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.