Griffon Corporation (NYSE:GFF) Receives Average Rating of “Moderate Buy” from Analysts

Griffon Corporation (NYSE:GFF) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $115.00.

Several analysts have recently issued reports on GFF shares. Weiss Ratings downgraded Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Stephens upped their price objective on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Robert W. Baird set a $115.00 price objective on shares of Griffon in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th.

Hedge Funds Weigh In On Griffon

A number of large investors have recently modified their holdings of GFF. Hantz Financial Services Inc. raised its stake in shares of Griffon by 149.6% in the 4th quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 211 shares during the period. Scarborough Advisors LLC purchased a new position in shares of Griffon in the 1st quarter valued at $29,000. Huntington National Bank raised its stake in shares of Griffon by 645.0% in the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 387 shares during the period. Hilton Head Capital Partners LLC purchased a new position in shares of Griffon in the 4th quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Griffon by 362.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 495 shares of the conglomerate’s stock valued at $36,000 after acquiring an additional 388 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Griffon Stock Up 0.3%

Griffon stock opened at $88.29 on Friday. The company has a market cap of $4.05 billion, a PE ratio of 679.18, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. Griffon has a 1-year low of $65.01 and a 1-year high of $97.58. The stock’s 50 day moving average price is $82.14 and its 200 day moving average price is $80.20. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43.

Griffon (NYSE:GFF) last posted its earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The company had revenue of $421.86 million for the quarter, compared to the consensus estimate of $414.63 million. During the same period in the previous year, the business earned $1.23 earnings per share. Griffon’s quarterly revenue was down 31.0% compared to the same quarter last year. On average, sell-side analysts predict that Griffon will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, May 29th. This represents a $0.88 annualized dividend and a yield of 1.0%. Griffon’s dividend payout ratio is 676.92%.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.