Griffon Co. (NYSE:GFF) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Griffon Co. (NYSE:GFF) have received a consensus recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $24.75.

Several research firms have weighed in on GFF. Truist began coverage on Griffon in a research note on Thursday, September 17th. They issued a “buy” rating and a $29.00 price target for the company. TheStreet upgraded Griffon from a “c+” rating to a “b-” rating in a research note on Friday, July 31st. Zacks Investment Research upgraded Griffon from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Wednesday, July 22nd. Finally, ValuEngine downgraded Griffon from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st.

NYSE:GFF traded up $0.56 during mid-day trading on Thursday, reaching $19.35. The company’s stock had a trading volume of 7,554 shares, compared to its average volume of 314,722. Griffon has a 12-month low of $9.15 and a 12-month high of $27.53. The firm’s fifty day moving average price is $21.72 and its two-hundred day moving average price is $17.65. The company has a current ratio of 2.27, a quick ratio of 1.32 and a debt-to-equity ratio of 2.21. The stock has a market cap of $1.04 billion, a P/E ratio of 16.98 and a beta of 2.22.

Griffon (NYSE:GFF) last issued its earnings results on Thursday, July 30th. The conglomerate reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.46. Griffon had a return on equity of 14.05% and a net margin of 2.13%. The business had revenue of $632.06 million during the quarter, compared to analyst estimates of $548.10 million. Analysts predict that Griffon will post 1.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, August 20th were issued a dividend of $0.075 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.30 annualized dividend and a yield of 1.55%. Griffon’s payout ratio is presently 27.78%.

A number of large investors have recently added to or reduced their stakes in GFF. PNC Financial Services Group Inc. raised its position in Griffon by 115.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,278 shares of the conglomerate’s stock valued at $54,000 after acquiring an additional 2,295 shares in the last quarter. Bank of Montreal Can increased its holdings in Griffon by 272.1% during the 2nd quarter. Bank of Montreal Can now owns 4,748 shares of the conglomerate’s stock worth $81,000 after purchasing an additional 3,472 shares during the period. SG Americas Securities LLC increased its holdings in Griffon by 37.6% during the 1st quarter. SG Americas Securities LLC now owns 12,863 shares of the conglomerate’s stock worth $163,000 after purchasing an additional 3,513 shares during the period. JS Capital Management LLC acquired a new position in shares of Griffon during the 1st quarter worth about $167,000. Finally, Aperio Group LLC boosted its position in shares of Griffon by 7.5% during the 1st quarter. Aperio Group LLC now owns 13,280 shares of the conglomerate’s stock worth $168,000 after acquiring an additional 925 shares in the last quarter. Institutional investors own 59.37% of the company’s stock.

About Griffon

Griffon Corp. is a management and holding company, which engages in the direction and assistance to its subsidiaries. It operates through the Home and Building Products, and Defense Electronics segments. The Home and Building Products segment consists of two companies, which manufactures branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions; and sells residential,and commercial garage doors.

Further Reading: Buy-Side Analysts

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