Simpson Manufacturing (NYSE:SSD) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• Simpson Manufacturing (NYSE:SSD) received a "Hold (C+)" rating by Weiss Ratings, indicating a cautious outlook on the stock.
• DA Davidson raised its price target for Simpson Manufacturing from $185.00 to $190.00, while the consensus target price remains at $191.00.
• For the latest quarter, Simpson Manufacturing reported an EPS of $2.47, exceeding estimates, with a year-over-year revenue increase of 5.7% to $631.06 million.

Simpson Manufacturing (NYSE:SSD - Get Free Report)'s stock had its "hold (c+)" rating restated by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Separately, DA Davidson lifted their price target on shares of Simpson Manufacturing from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Simpson Manufacturing currently has a consensus rating of "Hold" and an average target price of $191.00.

Simpson Manufacturing Price Performance

SSD stock opened at $175.45 on Friday. The firm has a 50 day simple moving average of $181.24 and a two-hundred day simple moving average of $167.92. The stock has a market cap of $7.30 billion, a PE ratio of 22.38 and a beta of 1.28. Simpson Manufacturing has a one year low of $137.35 and a one year high of $197.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.08. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The business had revenue of $631.06 million for the quarter, compared to analysts' expectations of $601.80 million. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. On average, analysts predict that Simpson Manufacturing will post 8.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the transaction, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. This represents a 24.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the sale, the executive vice president owned 7,810 shares in the company, valued at approximately $1,531,775.30. This represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Simpson Manufacturing

A number of institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock valued at $25,000 after acquiring an additional 92 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Simpson Manufacturing in the second quarter worth $31,000. CWM LLC lifted its position in Simpson Manufacturing by 39.1% during the first quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after buying an additional 93 shares during the period. Steph & Co. bought a new stake in shares of Simpson Manufacturing during the 2nd quarter valued at $53,000. Finally, Putney Financial Group LLC grew its position in shares of Simpson Manufacturing by 238.4% in the 2nd quarter. Putney Financial Group LLC now owns 379 shares of the construction company's stock worth $59,000 after buying an additional 267 shares during the period. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.

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