Griffon (GFF) Given a $18.00 Price Target at Robert W. Baird

Griffon (NYSE:GFF) received a $18.00 price target from equities researchers at Robert W. Baird in a report issued on Tuesday. The firm currently has a “hold” rating on the conglomerate’s stock. Robert W. Baird’s target price indicates a potential upside of 19.44% from the company’s current price.

GFF has been the topic of several other research reports. Goldman Sachs Group assumed coverage on shares of Griffon in a research report on Tuesday, October 2nd. They set a “neutral” rating and a $18.00 price target on the stock. ValuEngine raised shares of Griffon from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Deutsche Bank assumed coverage on shares of Griffon in a research report on Friday, September 21st. They set a “hold” rating and a $18.00 price target on the stock. Finally, TheStreet cut shares of Griffon from a “b-” rating to a “c+” rating in a research report on Friday, June 29th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Griffon has an average rating of “Hold” and a consensus price target of $18.00.

Shares of GFF stock opened at $15.07 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.31 and a debt-to-equity ratio of 2.41. Griffon has a one year low of $14.96 and a one year high of $24.50. The stock has a market cap of $736.69 million, a PE ratio of 17.40 and a beta of 1.30.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Wednesday, August 1st. The conglomerate reported $0.27 EPS for the quarter, topping the consensus estimate of $0.20 by $0.07. Griffon had a net margin of 6.18% and a return on equity of 7.23%. The business had revenue of $516.55 million for the quarter. As a group, analysts anticipate that Griffon will post 0.74 EPS for the current year.

Griffon declared that its Board of Directors has initiated a share buyback program on Wednesday, August 1st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the conglomerate to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other Griffon news, Director Henry A. Alpert bought 5,000 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were purchased at an average price of $18.09 per share, with a total value of $90,450.00. Following the completion of the acquisition, the director now directly owns 64,741 shares of the company’s stock, valued at approximately $1,171,164.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 24.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gamco Investors INC. ET AL lifted its holdings in Griffon by 1.6% in the second quarter. Gamco Investors INC. ET AL now owns 5,607,449 shares of the conglomerate’s stock worth $99,813,000 after acquiring an additional 86,558 shares during the last quarter. BlackRock Inc. lifted its holdings in Griffon by 11.9% in the second quarter. BlackRock Inc. now owns 4,311,525 shares of the conglomerate’s stock worth $76,746,000 after acquiring an additional 457,296 shares during the last quarter. Gabelli Funds LLC lifted its holdings in Griffon by 21.9% in the second quarter. Gabelli Funds LLC now owns 2,058,393 shares of the conglomerate’s stock worth $36,639,000 after acquiring an additional 369,416 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Griffon by 106.7% in the second quarter. Wells Fargo & Company MN now owns 547,844 shares of the conglomerate’s stock worth $9,751,000 after acquiring an additional 282,845 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Griffon by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 500,344 shares of the conglomerate’s stock worth $8,906,000 after acquiring an additional 37,612 shares during the last quarter. 64.38% of the stock is currently owned by hedge funds and other institutional investors.

About Griffon

Griffon Corporation, through its wholly-owned subsidiaries, engages in home and building, telephonics, and plastic products businesses worldwide. Its Home & Building Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; and residential and commercial garage doors to professional dealers and home center retail chains.

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