Griffon (NYSE:GFF) Price Target Increased to $84.00 by Analysts at Robert W. Baird

Griffon (NYSE:GFF) had its target price boosted by equities research analysts at Robert W. Baird from $82.00 to $84.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the conglomerate’s stock. Robert W. Baird’s price target points to a potential upside of 26.18% from the company’s current price.

Several other research analysts also recently commented on the company. Raymond James lifted their price target on Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Monday, February 5th. StockNews.com cut Griffon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $69.50.

Griffon Stock Performance

NYSE GFF traded up $1.31 during trading on Thursday, hitting $66.57. The company’s stock had a trading volume of 51,063 shares, compared to its average volume of 380,444. The company has a quick ratio of 1.24, a current ratio of 2.46 and a debt-to-equity ratio of 5.02. The firm has a 50 day moving average price of $69.80 and a 200 day moving average price of $57.14. The firm has a market cap of $3.39 billion, a P/E ratio of 49.66 and a beta of 1.41. Griffon has a 52 week low of $25.97 and a 52 week high of $75.18.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, February 7th. The conglomerate reported $1.07 EPS for the quarter, topping the consensus estimate of $0.78 by $0.29. The company had revenue of $643.20 million for the quarter, compared to the consensus estimate of $595.87 million. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Equities research analysts forecast that Griffon will post 4.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Griffon

In other Griffon news, Director James W. Sight sold 2,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $67.38, for a total value of $134,760.00. Following the transaction, the director now owns 18,843 shares of the company’s stock, valued at $1,269,641.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Griffon

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in shares of Griffon during the fourth quarter valued at $30,000. Scarborough Advisors LLC acquired a new position in shares of Griffon during the fourth quarter valued at $35,000. Quarry LP lifted its stake in shares of Griffon by 931.0% during the first quarter. Quarry LP now owns 1,165 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 1,052 shares during the period. Parkside Financial Bank & Trust increased its holdings in Griffon by 671.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 557 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in Griffon by 64.5% in the first quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock valued at $55,000 after purchasing an additional 1,080 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

About Griffon

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.