Griffon Corporation (NYSE:GFF) Receives Average Rating of “Buy” from Brokerages

Shares of Griffon Corporation (NYSE:GFF) have received a consensus recommendation of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $98.20.

A number of equities analysts have weighed in on GFF shares. Robert W. Baird upped their price target on shares of Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th.

Griffon Stock Down 0.1%

NYSE GFF opened at $75.53 on Tuesday. Griffon has a 52 week low of $62.26 and a 52 week high of $86.73. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58. The company has a market capitalization of $3.52 billion, a P/E ratio of 56.37, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. The stock’s 50-day moving average price is $76.99 and its 200-day moving average price is $73.16.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. Griffon had a net margin of 2.78% and a return on equity of 144.21%. The company had revenue of $613.63 million during the quarter, compared to analyst estimates of $649.95 million. During the same period in the prior year, the firm posted $1.24 EPS. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Griffon will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were given a dividend of $0.18 per share. The ex-dividend date was Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Griffon’s dividend payout ratio (DPR) is presently 53.73%.

Institutional Investors Weigh In On Griffon

Large investors have recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of Griffon by 8,720.0% during the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 436 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Griffon by 151.7% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock worth $32,000 after buying an additional 264 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Griffon during the 2nd quarter valued at about $37,000. Signaturefd LLC raised its position in shares of Griffon by 72.9% during the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate’s stock valued at $40,000 after buying an additional 234 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of Griffon by 11,460.0% in the 1st quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 573 shares during the last quarter. 73.22% of the stock is owned by institutional investors.

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.