Simpson Manufacturing (NYSE:SSD) Price Target Raised to $215.00 at Robert W. Baird

Simpson Manufacturing (NYSE:SSD) had its price target lifted by Robert W. Baird from $205.00 to $215.00 in a research note released on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

Separately, StockNews.com cut shares of Simpson Manufacturing from a buy rating to a hold rating in a research note on Wednesday, March 27th.

Simpson Manufacturing Price Performance

Shares of NYSE SSD opened at $182.03 on Thursday. The company has a 50 day simple moving average of $197.72 and a two-hundred day simple moving average of $177.76. Simpson Manufacturing has a fifty-two week low of $110.40 and a fifty-two week high of $218.38. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 22.04 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.11 and a current ratio of 3.63.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, February 5th. The construction company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Simpson Manufacturing had a net margin of 15.99% and a return on equity of 22.06%. The company had revenue of $501.70 million for the quarter, compared to analysts’ expectations of $482.98 million. During the same quarter in the previous year, the firm posted $1.35 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts expect that Simpson Manufacturing will post 8.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $192.48, for a total transaction of $179,776.32. Following the sale, the director now directly owns 14,638 shares in the company, valued at approximately $2,817,522.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Simpson Manufacturing news, EVP Phillip Burton sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the completion of the transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jennifer Chatman sold 934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction of $179,776.32. Following the sale, the director now directly owns 14,638 shares in the company, valued at approximately $2,817,522.24. The disclosure for this sale can be found here. Insiders sold a total of 4,634 shares of company stock worth $927,460 in the last three months. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Contravisory Investment Management Inc. bought a new stake in Simpson Manufacturing in the 4th quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in shares of Simpson Manufacturing in the 1st quarter worth $37,000. Headlands Technologies LLC bought a new stake in shares of Simpson Manufacturing in the fourth quarter worth $37,000. GAMMA Investing LLC bought a new stake in shares of Simpson Manufacturing during the 4th quarter valued at about $35,000. Finally, Arlington Trust Co LLC purchased a new stake in Simpson Manufacturing during the third quarter valued at approximately $31,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

About Simpson Manufacturing

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.