Griffon Co. (NYSE:GFF) has received an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.00.
GFF has been the topic of several research analyst reports. TheStreet upgraded shares of Griffon from a “c+” rating to a “b-” rating in a research note on Wednesday, August 21st. Zacks Investment Research upgraded shares of Griffon from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, August 7th.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Griffon by 3.3% during the 2nd quarter. BlackRock Inc. now owns 5,312,471 shares of the conglomerate’s stock worth $89,888,000 after acquiring an additional 169,652 shares in the last quarter. Wells Fargo & Company MN raised its stake in Griffon by 17.5% during the 2nd quarter. Wells Fargo & Company MN now owns 1,224,925 shares of the conglomerate’s stock worth $20,726,000 after acquiring an additional 182,743 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Griffon by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 650,434 shares of the conglomerate’s stock worth $11,006,000 after acquiring an additional 8,704 shares in the last quarter. Northern Trust Corp raised its stake in Griffon by 2.7% during the 2nd quarter. Northern Trust Corp now owns 484,662 shares of the conglomerate’s stock worth $8,201,000 after acquiring an additional 12,756 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Griffon by 3.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 454,895 shares of the conglomerate’s stock worth $7,697,000 after acquiring an additional 17,129 shares in the last quarter. Hedge funds and other institutional investors own 67.63% of the company’s stock.
Shares of GFF opened at $20.48 on Tuesday. Griffon has a twelve month low of $9.65 and a twelve month high of $21.58. The firm’s fifty day simple moving average is $18.32 and its 200-day simple moving average is $17.41. The firm has a market capitalization of $996.38 million, a price-to-earnings ratio of 26.95 and a beta of 2.14. The company has a current ratio of 2.62, a quick ratio of 1.43 and a debt-to-equity ratio of 2.38.
Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, August 1st. The conglomerate reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. Griffon had a net margin of 0.91% and a return on equity of 9.39%. The business had revenue of $574.97 million for the quarter, compared to analyst estimates of $544.20 million. On average, analysts predict that Griffon will post 1.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 22nd were paid a dividend of $0.072 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.29 annualized dividend and a yield of 1.41%. Griffon’s dividend payout ratio is currently 38.16%.
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.
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