Simpson Manufacturing (NYSE:SSD) Given New $218.00 Price Target at Stifel Nicolaus

Simpson Manufacturing (NYSE:SSD) had its price target hoisted by research analysts at Stifel Nicolaus from $217.00 to $218.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently 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 a number of other research reports. Wall Street Zen downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stephens raised their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $216.25.

Simpson Manufacturing Trading Down 0.0%

NYSE:SSD opened at $187.70 on Monday. The company has a market cap of $7.72 billion, a P/E ratio of 20.51 and a beta of 1.30. Simpson Manufacturing has a twelve month low of $156.32 and a twelve month high of $213.49. The business has a 50 day moving average price of $193.14 and a two-hundred day moving average price of $187.43. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. The company had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. As a group, analysts expect that Simpson Manufacturing will post 9.11 EPS for the current fiscal year.

Institutional Trading of Simpson Manufacturing

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Simpson Manufacturing by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company’s stock worth $798,000 after acquiring an additional 1,726 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Simpson Manufacturing by 11.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company’s stock worth $427,000 after acquiring an additional 286 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Simpson Manufacturing during the first quarter valued at about $531,000. Goldman Sachs Group Inc. increased its position in Simpson Manufacturing by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company’s stock valued at $33,327,000 after buying an additional 64,114 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Simpson Manufacturing by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company’s stock valued at $19,022,000 after acquiring an additional 12,865 shares during the period. Institutional investors and hedge funds 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.