Analysts Set Griffon Co. (NYSE:GFF) Price Target at $18.25

Shares of Griffon Co. (NYSE:GFF) have been given an average recommendation of “Hold” by the six analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.25.

Several analysts have issued reports on GFF shares. Zacks Investment Research cut Griffon from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Robert W. Baird set a $18.00 price objective on Griffon and gave the company a “hold” rating in a research note on Monday, April 22nd.

Several institutional investors have recently made changes to their positions in GFF. Deutsche Bank AG raised its position in shares of Griffon by 260.3% during the 4th quarter. Deutsche Bank AG now owns 252,273 shares of the conglomerate’s stock worth $2,635,000 after purchasing an additional 182,263 shares during the period. Gamco Investors INC. ET AL grew its holdings in Griffon by 2.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 5,532,987 shares of the conglomerate’s stock worth $102,250,000 after buying an additional 133,576 shares in the last quarter. BlackRock Inc. grew its holdings in Griffon by 2.6% in the 4th quarter. BlackRock Inc. now owns 4,976,297 shares of the conglomerate’s stock worth $52,004,000 after buying an additional 125,129 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Griffon by 23.2% in the 4th quarter. Bank of New York Mellon Corp now owns 638,177 shares of the conglomerate’s stock worth $6,670,000 after buying an additional 120,045 shares in the last quarter. Finally, Norges Bank bought a new position in Griffon in the 4th quarter worth approximately $755,000. Institutional investors and hedge funds own 66.78% of the company’s stock.

Shares of NYSE:GFF traded down $0.31 during trading on Monday, hitting $18.51. The company’s stock had a trading volume of 4,342 shares, compared to its average volume of 102,099. The company has a quick ratio of 1.45, a current ratio of 2.70 and a debt-to-equity ratio of 2.54. Griffon has a fifty-two week low of $9.65 and a fifty-two week high of $19.86. The firm’s 50-day simple moving average is $16.35. The stock has a market capitalization of $880.79 million, a P/E ratio of 24.41 and a beta of 2.21.

Griffon (NYSE:GFF) last released its quarterly earnings results on Thursday, August 1st. The conglomerate reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Griffon had a return on equity of 9.46% and a net margin of 0.91%. The business had revenue of $574.97 million for the quarter, compared to analysts’ expectations of $544.20 million. Equities research analysts forecast that Griffon will post 1.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.072 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Wednesday, August 21st. Griffon’s payout ratio is 38.16%.

About Griffon

Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.

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Analyst Recommendations for Griffon (NYSE:GFF)

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