Griffon (NYSE:GFF) Price Target Increased to $92.00 by Analysts at Robert W. Baird

Griffon (NYSE:GFF) had its target price increased by Robert W. Baird from $84.00 to $92.00 in a report released on Monday, Benzinga reports. Robert W. Baird currently has an outperform rating on the conglomerate’s stock.

A number of other research firms also recently commented on GFF. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 12th. Stephens restated an “overweight” rating and set a $85.00 price objective on shares of Griffon in a research note on Tuesday, September 10th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $83.50.

Griffon Stock Performance

Griffon stock opened at $64.38 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. The stock has a 50 day moving average of $66.52 and a 200-day moving average of $66.84. The stock has a market cap of $3.19 billion, a P/E ratio of 16.99 and a beta of 1.29. Griffon has a 52 week low of $38.39 and a 52 week high of $77.99.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a return on equity of 96.05% and a net margin of 7.27%. The company had revenue of $647.80 million during the quarter, compared to the consensus estimate of $688.94 million. During the same period in the previous year, the firm posted $1.29 EPS. Griffon’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts expect that Griffon will post 4.87 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 28th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Wednesday, August 28th. Griffon’s dividend payout ratio (DPR) is 15.83%.

Insider Buying and Selling

In other Griffon news, CEO Ronald J. Kramer sold 100,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the sale, the chief executive officer now directly owns 2,260,746 shares in the company, valued at approximately $140,754,045.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Griffon news, COO Robert F. Mehmel sold 1,205 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $70.11, for a total value of $84,482.55. Following the sale, the chief operating officer now owns 754,046 shares in the company, valued at approximately $52,866,165.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ronald J. Kramer sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.26, for a total value of $6,226,000.00. Following the transaction, the chief executive officer now owns 2,260,746 shares of the company’s stock, valued at approximately $140,754,045.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 260,464 shares of company stock worth $17,244,450 in the last three months. 16.10% of the stock is owned by insiders.

Institutional Trading of Griffon

Several hedge funds have recently added to or reduced their stakes in the business. Ritholtz Wealth Management increased its holdings in shares of Griffon by 5.0% during the third quarter. Ritholtz Wealth Management now owns 3,913 shares of the conglomerate’s stock valued at $274,000 after purchasing an additional 187 shares during the period. Evergreen Capital Management LLC increased its stake in Griffon by 5.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,011 shares of the conglomerate’s stock valued at $256,000 after buying an additional 201 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Griffon by 0.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 39,526 shares of the conglomerate’s stock worth $2,899,000 after buying an additional 213 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Griffon by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,753 shares of the conglomerate’s stock worth $1,134,000 after acquiring an additional 231 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Griffon by 2.2% in the second quarter. National Bank of Canada FI now owns 14,562 shares of the conglomerate’s stock valued at $930,000 after acquiring an additional 311 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

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.