Stephens Reaffirms Overweight Rating for Griffon (NYSE:GFF)

Stephens reaffirmed their overweight rating on shares of Griffon (NYSE:GFF) in a research note published on Tuesday, Benzinga reports. They currently have a $85.00 price target on the conglomerate’s stock.

Other analysts have also issued research reports about the stock. Robert W. Baird dropped their price objective on shares of Griffon from $86.00 to $84.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. StockNews.com lowered shares of Griffon from a strong-buy rating to a buy rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $81.50.

Griffon Stock Performance

NYSE:GFF opened at $64.86 on Tuesday. The firm’s fifty day simple moving average is $65.85 and its 200 day simple moving average is $67.45. The company has a current ratio of 2.50, a quick ratio of 1.39 and a debt-to-equity ratio of 6.71. Griffon has a twelve month low of $38.33 and a twelve month high of $77.99. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 17.11 and a beta of 1.30.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $688.94 million. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Griffon will post 4.83 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. Griffon’s dividend payout ratio (DPR) is 15.83%.

Insider Transactions at Griffon

In related news, Director Kevin F. Sullivan sold 12,447 shares of Griffon stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the completion of the transaction, the director now directly owns 50,390 shares in the company, valued at $3,275,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in shares of Griffon during the 4th quarter valued at approximately $35,000. Quarry LP increased its stake in Griffon by 98.7% during the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 386 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Griffon during the second quarter worth $55,000. GAMMA Investing LLC lifted its position in shares of Griffon by 65.1% in the 1st quarter. GAMMA Investing LLC now owns 842 shares of the conglomerate’s stock worth $62,000 after buying an additional 332 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in shares of Griffon in the 1st quarter valued at about $65,000. 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.