Analysts Set Griffon Corporation (NYSE:GFF) Price Target at $103.50

Griffon Corporation (NYSE:GFF) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $103.50.

Several equities research analysts have recently weighed in on the company. Stephens increased their price objective on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. CJS Securities upgraded shares of Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Finally, Robert W. Baird set a $108.00 target price on shares of Griffon in a research note on Friday, February 6th.

Insider Buying and Selling

In other Griffon news, Director James W. Sight sold 3,070 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $96.15, for a total value of $295,180.50. Following the sale, the director owned 13,872 shares of the company’s stock, valued at $1,333,792.80. The trade was a 18.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Seth L. Kaplan sold 15,000 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $95.44, for a total transaction of $1,431,600.00. Following the completion of the transaction, the senior vice president owned 119,747 shares of the company’s stock, valued at approximately $11,428,653.68. This represents a 11.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 10.20% of the company’s stock.

Institutional Trading of Griffon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MidFirst Bank acquired a new position in Griffon in the fourth quarter worth about $158,000. Corient Private Wealth LLC raised its holdings in shares of Griffon by 3.4% in the 4th quarter. Corient Private Wealth LLC now owns 3,546 shares of the conglomerate’s stock worth $261,000 after buying an additional 115 shares in the last quarter. State of Tennessee Department of Treasury lifted its position in shares of Griffon by 33.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 26,812 shares of the conglomerate’s stock worth $2,184,000 after buying an additional 6,648 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Griffon by 41.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,002,513 shares of the conglomerate’s stock worth $73,835,000 after buying an additional 293,278 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in Griffon by 57.3% in the 4th quarter. NewEdge Advisors LLC now owns 7,412 shares of the conglomerate’s stock valued at $546,000 after buying an additional 2,701 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

Griffon Trading Up 0.3%

Shares of NYSE:GFF opened at $85.77 on Friday. The company has a debt-to-equity ratio of 12.36, a quick ratio of 1.27 and a current ratio of 2.55. The stock’s 50-day moving average is $83.21 and its 200-day moving average is $77.84. The company has a market cap of $4.00 billion, a P/E ratio of 93.23, a P/E/G ratio of 1.42 and a beta of 1.33. Griffon has a 52-week low of $63.92 and a 52-week high of $97.58.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Thursday, February 5th. The conglomerate reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $649.09 million during the quarter, compared to analysts’ expectations of $618.35 million. Griffon had a return on equity of 228.83% and a net margin of 1.76%.The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. Equities research analysts predict that Griffon will post 5.55 earnings per share for the current year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Friday, February 27th will be given a $0.22 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. Griffon’s dividend payout ratio (DPR) is currently 95.65%.

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.