DA Davidson Cuts Simpson Manufacturing (NYSE:SSD) Price Target to $185.00

Simpson Manufacturing (NYSE:SSD) had its target price decreased by analysts at DA Davidson from $195.00 to $185.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. DA Davidson’s price target would indicate a potential upside of 13.03% from the stock’s current price.

Separately, Robert W. Baird lowered their price objective on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th.

Simpson Manufacturing Stock Down 0.8 %

NYSE SSD opened at $163.67 on Tuesday. Simpson Manufacturing has a 52 week low of $154.97 and a 52 week high of $210.08. The firm has a market cap of $6.90 billion, a PE ratio of 21.54 and a beta of 1.39. The business’s fifty day simple moving average is $166.33 and its 200-day simple moving average is $177.14. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. As a group, equities analysts anticipate that Simpson Manufacturing will post 8.29 earnings per share for the current year.

Insider Activity

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total value of $169,980.00. Following the completion of the sale, the executive vice president now owns 8,810 shares in the company, valued at approximately $1,497,523.80. The trade was a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional Trading of Simpson Manufacturing

Several institutional investors and hedge funds have recently bought and sold shares of SSD. New York Life Investment Management LLC purchased a new position in shares of Simpson Manufacturing during the fourth quarter worth about $738,000. Champlain Investment Partners LLC purchased a new position in shares of Simpson Manufacturing in the 3rd quarter valued at approximately $16,060,000. Diversified Trust Co acquired a new position in shares of Simpson Manufacturing in the fourth quarter valued at approximately $591,000. Charles Schwab Investment Management Inc. raised its stake in shares of Simpson Manufacturing by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 487,118 shares of the construction company’s stock worth $93,171,000 after purchasing an additional 6,585 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Simpson Manufacturing by 1.0% during the third quarter. Geode Capital Management LLC now owns 707,664 shares of the construction company’s stock worth $135,390,000 after purchasing an additional 7,351 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 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.