Griffon (NYSE:GFF) PT Raised to $86.00 at Robert W. Baird

Griffon (NYSE:GFF) had its price objective increased by analysts at Robert W. Baird from $84.00 to $86.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the conglomerate’s stock. Robert W. Baird’s price target would suggest a potential upside of 18.38% from the company’s current price.

A number of other research firms have also recently issued reports on GFF. Deutsche Bank Aktiengesellschaft boosted their target price on Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Raymond James increased their target price on Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Monday, February 5th. Finally, StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Griffon has an average rating of “Strong Buy” and a consensus target price of $81.00.

Griffon Price Performance

Griffon stock opened at $72.65 on Thursday. The firm has a market capitalization of $3.70 billion, a P/E ratio of 54.22 and a beta of 1.43. The business has a 50-day moving average of $69.73 and a 200-day moving average of $60.10. The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 5.02. Griffon has a 1 year low of $29.78 and a 1 year high of $77.99.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, May 8th. The conglomerate reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.51. The firm had revenue of $672.88 million during the quarter, compared to analysts’ expectations of $625.22 million. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 earnings per share. On average, equities analysts anticipate that Griffon will post 4.56 EPS for the current year.

Hedge Funds Weigh In On Griffon

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of Griffon in the 4th quarter valued at about $30,000. Scarborough Advisors LLC bought a new stake in Griffon in the fourth quarter valued at approximately $35,000. Parkside Financial Bank & Trust lifted its holdings in Griffon by 671.1% during the 4th 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. Sage Rock Capital Management LP acquired a new position in shares of Griffon in the fourth quarter valued at $98,000. Finally, Welch Group LLC bought a new position in Griffon in the 1st quarter valued at about $220,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

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.