Simpson Manufacturing (NYSE:SSD) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Simpson Manufacturing (NYSE: SSD) from “hold” to “buy,” adding to a mixed but generally cautious analyst picture. Overall, MarketBeat data shows a consensus rating of “hold” with a consensus price target of $214.75.
• The company recently posted stronger-than-expected results, reporting Q1 EPS of $2.13 versus estimates of $1.84 and revenue of $587.96 million versus expectations of $550.08 million. Revenue rose 9.1% year over year, and analysts forecast full-year EPS of 9.18.
• Shares were trading lower despite the upgrade, down 2.1% to $188.47, with the stock still below its 52-week high of $211.98. Simpson Manufacturing also has a strong balance sheet, including a debt-to-equity ratio of 0.17 and current ratio of 3.40.

Simpson Manufacturing (NYSE:SSD - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

SSD has been the topic of several other research reports. Robert W. Baird lifted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Weiss Ratings lowered shares of Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 2nd. Stephens raised their target price on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Stifel Nicolaus lifted their target price on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, DA Davidson boosted their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $214.75.

Simpson Manufacturing Trading Down 2.1%

SSD opened at $188.47 on Friday. Simpson Manufacturing has a one year low of $151.38 and a one year high of $211.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. The business has a 50 day simple moving average of $179.84 and a two-hundred day simple moving average of $177.78. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 22.10 and a beta of 1.34.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The firm had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same period last year, the company earned $1.85 EPS. The business's quarterly revenue was up 9.1% compared to the same quarter last year. Analysts predict that Simpson Manufacturing will post 9.18 EPS for the current year.

Hedge Funds Weigh In On Simpson Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSD. Smartleaf Asset Management LLC grew its position in shares of Simpson Manufacturing by 33.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company's stock worth $37,000 after buying an additional 57 shares during the period. Parkside Financial Bank & Trust lifted its position in Simpson Manufacturing by 2.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,837 shares of the construction company's stock valued at $475,000 after acquiring an additional 58 shares during the period. Apollon Wealth Management LLC boosted its stake in Simpson Manufacturing by 1.3% during the fourth quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company's stock worth $796,000 after acquiring an additional 62 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in Simpson Manufacturing by 0.6% during the fourth quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company's stock worth $1,981,000 after acquiring an additional 77 shares in the last quarter. Finally, MGO One Seven LLC grew its holdings in Simpson Manufacturing by 1.1% in the third quarter. MGO One Seven LLC now owns 8,234 shares of the construction company's stock worth $1,379,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.

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