Robert W. Baird Raises Griffon (NYSE:GFF) Price Target to $92.00

Griffon (NYSE:GFF) had its price target increased by Robert W. Baird from $84.00 to $92.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the conglomerate’s stock. Robert W. Baird’s price objective suggests a potential upside of 35.87% from the company’s current price.

Several other equities analysts also recently issued reports on the company. StockNews.com upgraded Griffon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 12th. Stephens reiterated an “overweight” rating and set a $85.00 price target on shares of Griffon in a research report on Tuesday, September 10th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $83.50.

Griffon Stock Down 0.5 %

Shares of NYSE:GFF opened at $67.71 on Monday. The company’s fifty day moving average is $66.30 and its 200-day moving average is $67.01. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50. Griffon has a 52 week low of $38.33 and a 52 week high of $77.99. The company has a market capitalization of $3.36 billion, a PE ratio of 17.87 and a beta of 1.29.

Griffon (NYSE:GFF) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a return on equity of 96.05% and a net margin of 7.27%. The firm had revenue of $647.80 million for the quarter, compared to the consensus estimate of $688.94 million. During the same period in the prior year, the company posted $1.29 earnings per share. Griffon’s quarterly revenue was down 5.2% compared to the same quarter last year. Equities research analysts predict that Griffon will post 4.87 earnings per share for the current fiscal year.

Insider Activity at Griffon

In other Griffon news, COO Robert F. Mehmel sold 912 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $70.06, for a total transaction of $63,894.72. Following the transaction, the chief operating officer now directly owns 746,611 shares in the company, valued at approximately $52,307,566.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Griffon news, Director Kevin F. Sullivan sold 12,447 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total transaction of $809,055.00. Following the transaction, the director now owns 50,390 shares in the company, valued at approximately $3,275,350. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert F. Mehmel sold 912 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $70.06, for a total value of $63,894.72. Following the transaction, the chief operating officer now owns 746,611 shares of the company’s stock, valued at $52,307,566.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,464 shares of company stock worth $17,244,450 over the last 90 days. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd bought a new stake in Griffon in the first quarter valued at approximately $557,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Griffon in the 1st quarter valued at $4,013,000. Vanguard Group Inc. lifted its holdings in Griffon by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock worth $432,954,000 after acquiring an additional 38,707 shares in the last quarter. Hsbc Holdings PLC grew its stake in Griffon by 228.7% in the second quarter. Hsbc Holdings PLC now owns 61,704 shares of the conglomerate’s stock valued at $3,954,000 after acquiring an additional 42,934 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Griffon by 62.0% in the first quarter. Sei Investments Co. now owns 47,724 shares of the conglomerate’s stock worth $3,500,000 after acquiring an additional 18,256 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

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.