Griffon Co. (NYSE:GFF) Receives $28.20 Consensus PT from Brokerages


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Shares of Griffon Co. (NYSE:GFF) have been given an average recommendation of “Buy” by the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.20.

A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Griffon from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Monday, February 1st. Raymond James raised their target price on shares of Griffon from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, January 29th.

NYSE GFF opened at $27.31 on Monday. The firm has a 50-day moving average of $26.12 and a 200-day moving average of $22.93. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.56 and a current ratio of 2.48. The stock has a market cap of $1.54 billion, a PE ratio of 23.34 and a beta of 2.00. Griffon has a 52-week low of $13.27 and a 52-week high of $28.47.

Griffon (NYSE:GFF) last released its quarterly earnings results on Thursday, January 28th. The conglomerate reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.22. Griffon had a net margin of 2.22% and a return on equity of 13.40%. The business had revenue of $609.30 million for the quarter, compared to analyst estimates of $575.10 million. Griffon’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that Griffon will post 1.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 18th. Investors of record on Thursday, February 18th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, February 17th. This represents a $0.32 annualized dividend and a yield of 1.17%. Griffon’s dividend payout ratio is presently 19.75%.

In other news, SVP Seth L. Kaplan sold 9,737 shares of the business’s stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $23.62, for a total value of $229,987.94. Following the transaction, the senior vice president now owns 248,298 shares in the company, valued at approximately $5,864,798.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seth L. Kaplan sold 13,251 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $24.36, for a total transaction of $322,794.36. Following the completion of the transaction, the senior vice president now owns 248,298 shares in the company, valued at approximately $6,048,539.28. The disclosure for this sale can be found here. 9.30% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Griffon by 9.3% in the 4th quarter. BlackRock Inc. now owns 6,924,756 shares of the conglomerate’s stock valued at $141,128,000 after acquiring an additional 591,500 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Griffon by 20.5% in the 4th quarter. Wells Fargo & Company MN now owns 1,847,066 shares of the conglomerate’s stock valued at $37,644,000 after acquiring an additional 313,949 shares in the last quarter. Select Equity Group L.P. increased its stake in shares of Griffon by 31.0% in the 4th quarter. Select Equity Group L.P. now owns 1,713,066 shares of the conglomerate’s stock valued at $34,912,000 after acquiring an additional 405,574 shares in the last quarter. State Street Corp grew its stake in shares of Griffon by 2.5% in the 3rd quarter. State Street Corp now owns 1,309,494 shares of the conglomerate’s stock worth $25,588,000 after acquiring an additional 31,768 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in shares of Griffon by 116.5% in the 4th quarter. Peregrine Capital Management LLC now owns 715,535 shares of the conglomerate’s stock worth $14,583,000 after buying an additional 385,002 shares during the last quarter. Institutional investors own 73.62% of the company’s stock.

Griffon Company Profile

Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the following segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics. The Consumer and Professional Products segment operates through AMES.

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