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Stifel Nicolaus Boosts Simpson Manufacturing (NYSE:SSD) Price Target to $217.00

Simpson Manufacturing logo with Construction background
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Key Points

  • Stifel Nicolaus raised its price target on Simpson Manufacturing to $217 (from $205) and keeps a "buy" rating, implying roughly a 16.3% upside from the prior close.
  • Simpson beat Q1 expectations with EPS of $2.13 versus $1.84 estimated and revenue of about $588M (up 9.1% YoY); the company also repurchased $50M of stock and reported strong margins and ROE.
  • Analyst views are mixed—two Buys and two Holds with an average target of $209.25—and management cautioned that U.S. housing starts down in the low single digits could pressure future demand.
  • Five stocks to consider instead of Simpson Manufacturing.

Simpson Manufacturing (NYSE:SSD - Get Free Report) had its price objective increased by stock analysts at Stifel Nicolaus from $205.00 to $217.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Stifel Nicolaus' target price would suggest a potential upside of 16.30% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 2nd. Robert W. Baird dropped their price objective on shares of Simpson Manufacturing to $216.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Stephens set a $200.00 price objective on shares of Simpson Manufacturing in a report on Tuesday, February 10th. Finally, DA Davidson raised their target price on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Wednesday, February 11th. Two investment analysts have 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $209.25.

Get Our Latest Research Report on SSD

Simpson Manufacturing Trading Up 2.8%

Shares of NYSE:SSD opened at $186.58 on Tuesday. Simpson Manufacturing has a 12 month low of $149.79 and a 12 month high of $211.98. 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's fifty day simple moving average is $180.96 and its 200 day simple moving average is $176.86. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 22.62 and a beta of 1.37.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The business had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same period last year, the business posted $1.85 earnings per share. The firm's quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts forecast that Simpson Manufacturing will post 8.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. lifted its holdings in Simpson Manufacturing by 43.2% during the 3rd quarter. Alps Advisors Inc. now owns 28,843 shares of the construction company's stock worth $4,830,000 after purchasing an additional 8,706 shares during the last quarter. Westview Management dba Westview Investment Advisors bought a new position in Simpson Manufacturing during the 4th quarter worth $2,074,000. EULAV Asset Management bought a new position in Simpson Manufacturing during the 3rd quarter worth $5,526,000. Campbell & CO Investment Adviser LLC increased its position in Simpson Manufacturing by 340.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 14,221 shares of the construction company's stock worth $2,381,000 after buying an additional 10,990 shares during the period. Finally, Cooke & Bieler LP bought a new stake in Simpson Manufacturing in the 3rd quarter valued at about $12,211,000. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing News Roundup

Here are the key news stories impacting Simpson Manufacturing this week:

Simpson Manufacturing Company Profile

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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