Simpson Manufacturing (NYSE:SSD) Rating Lowered to Hold at Wall Street Zen

Simpson Manufacturing (NYSE:SSD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other brokerages also recently commented on SSD. Stephens set a $200.00 target price on shares of Simpson Manufacturing in a research note on Tuesday, February 10th. DA Davidson lifted their price target on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Weiss Ratings lowered Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Finally, Robert W. Baird set a $222.00 price objective on Simpson Manufacturing in a report on Tuesday, February 10th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $207.33.

Simpson Manufacturing Stock Performance

SSD stock opened at $185.28 on Friday. Simpson Manufacturing has a twelve month low of $137.35 and a twelve month high of $211.98. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 22.46 and a beta of 1.35. The business’s fifty day simple moving average is $186.89 and its two-hundred day simple moving average is $178.81. The company has a quick ratio of 1.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.18.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, February 9th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The firm had revenue of $539.35 million during the quarter, compared to analyst estimates of $530.70 million. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 earnings per share. Analysts predict that Simpson Manufacturing will post 8.29 earnings per share for the current year.

Insider Buying and Selling at Simpson Manufacturing

In other news, Director Philip E. Donaldson sold 2,375 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $168.16, for a total value of $399,380.00. Following the completion of the sale, the director owned 6,086 shares of the company’s stock, valued at approximately $1,023,421.76. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Simpson Manufacturing

A number of large investors have recently bought and sold shares of the business. Alps Advisors Inc. grew its stake in Simpson Manufacturing by 43.2% in the third quarter. Alps Advisors Inc. now owns 28,843 shares of the construction company’s stock valued at $4,830,000 after purchasing an additional 8,706 shares during the last quarter. EULAV Asset Management purchased a new stake in shares of Simpson Manufacturing during the third quarter valued at about $5,526,000. Campbell & CO Investment Adviser LLC lifted its position in shares of Simpson Manufacturing by 340.1% during the third quarter. Campbell & CO Investment Adviser LLC now owns 14,221 shares of the construction company’s stock valued at $2,381,000 after buying an additional 10,990 shares during the last quarter. Argent Capital Management LLC bought a new stake in shares of Simpson Manufacturing in the 3rd quarter valued at about $15,976,000. Finally, Cooke & Bieler LP bought a new stake in shares of Simpson Manufacturing in the 3rd quarter valued at about $12,211,000. Institutional investors own 93.68% of the company’s stock.

About Simpson Manufacturing

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.