Stifel Nicolaus Issues Positive Forecast for Simpson Manufacturing (NYSE:SSD) Stock Price

Simpson Manufacturing (NYSE:SSD) had its target price raised by stock analysts at Stifel Nicolaus from $217.00 to $218.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 16.14% from the stock’s previous close.

SSD has been the subject of several other research reports. Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stephens upped their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a report on Tuesday, July 28th. Robert W. Baird raised their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, DA Davidson lifted their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $216.25.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $187.70 on Monday. Simpson Manufacturing has a 12-month low of $156.32 and a 12-month high of $213.49. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 20.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. The firm’s fifty day moving average price is $193.14 and its 200 day moving average price is $187.43.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.37. The business had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. Simpson Manufacturing’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.47 earnings per share. On average, research analysts forecast that Simpson Manufacturing will post 9.11 EPS for the current fiscal year.

Institutional Trading of Simpson Manufacturing

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after buying an additional 92 shares during the period. V Square Quantitative Management LLC acquired a new position in Simpson Manufacturing in the fourth quarter valued at approximately $28,000. Los Angeles Capital Management LLC bought a new position in Simpson Manufacturing in the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. bought a new position in Simpson Manufacturing in the third quarter valued at approximately $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Simpson Manufacturing during the 1st quarter worth $37,000. 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.