Simpson Manufacturing (NYSE:SSD - Get Free Report) had its price objective raised by stock analysts at Stephens from $200.00 to $210.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the construction company's stock. Stephens' target price indicates a potential upside of 8.17% from the stock's current price.
Several other equities research analysts have also recently weighed in on the company. DA Davidson upped their target price on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 11th. 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. Wall Street Zen downgraded shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Weiss Ratings cut Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 2nd. Finally, Stifel Nicolaus lifted their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Simpson Manufacturing presently has a consensus rating of "Hold" and a consensus price target of $211.75.
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Simpson Manufacturing Trading Up 4.1%
Shares of SSD stock opened at $194.15 on Tuesday. Simpson Manufacturing has a 12-month low of $149.79 and a 12-month high of $211.98. The firm has a 50 day moving average price of $180.96 and a two-hundred day moving average price of $176.86. The company has a quick ratio of 1.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $8.00 billion, a PE ratio of 23.32 and a beta of 1.37.
Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.29. The business had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. Simpson Manufacturing's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $1.85 earnings per share. As a group, analysts predict that Simpson Manufacturing will post 8.98 earnings per share for the current year.
Institutional Trading of Simpson Manufacturing
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its holdings in shares of Simpson Manufacturing by 11,044.7% in the fourth quarter. Bank of Montreal Can now owns 678,490 shares of the construction company's stock valued at $109,556,000 after purchasing an additional 672,402 shares in the last quarter. Norges Bank bought a new position in Simpson Manufacturing during the 4th quarter valued at $85,140,000. Victory Capital Management Inc. raised its holdings in shares of Simpson Manufacturing by 6,234.7% in the fourth quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company's stock valued at $64,257,000 after purchasing an additional 391,665 shares during the last quarter. Capital International Investors lifted its position in shares of Simpson Manufacturing by 93.7% during the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company's stock valued at $107,086,000 after purchasing an additional 320,870 shares in the last quarter. Finally, ValueAct Holdings L.P. grew its position in Simpson Manufacturing by 21.9% in the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company's stock worth $237,707,000 after purchasing an additional 264,200 shares in the last quarter. 93.68% of the stock is owned by institutional investors.
More Simpson Manufacturing News
Here are the key news stories impacting Simpson Manufacturing this week:
Simpson Manufacturing Company Profile
(
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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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