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

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

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

Griffon Stock Performance

Shares of GFF stock traded up $1.31 during mid-day trading on Thursday, reaching $66.57. 51,063 shares of the company’s stock traded hands, compared to its average volume of 380,444. Griffon has a 12 month low of $25.97 and a 12 month high of $75.18. The firm has a 50 day moving average price of $69.80 and a two-hundred day moving average price of $57.14. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46. The firm has a market capitalization of $3.39 billion, a PE ratio of 49.66 and a beta of 1.41.

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

Insider Activity at Griffon

In related news, Director James W. Sight sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $67.38, for a total transaction of $134,760.00. Following the transaction, the director now directly owns 18,843 shares in the company, valued at approximately $1,269,641.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Griffon

Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its stake in Griffon by 829.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 572,217 shares of the conglomerate’s stock worth $23,060,000 after acquiring an additional 510,641 shares in the last quarter. Norges Bank bought a new position in Griffon in the 4th quarter worth about $14,521,000. Vanguard Group Inc. grew its stake in Griffon by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 5,656,744 shares of the conglomerate’s stock worth $113,304,000 after acquiring an additional 388,996 shares in the last quarter. Pacer Advisors Inc. grew its stake in Griffon by 22.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,598,353 shares of the conglomerate’s stock worth $97,420,000 after acquiring an additional 289,208 shares in the last quarter. Finally, Boston Partners bought a new position in Griffon in the 4th quarter worth about $16,829,000. 73.22% of the stock is currently owned by institutional investors.

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.