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

Simpson Manufacturing (NYSE:SSD) had its price objective decreased by equities researchers at DA Davidson from $195.00 to $185.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. DA Davidson’s target price points to a potential upside of 17.77% from the company’s previous close.

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

Simpson Manufacturing Stock Down 1.2 %

NYSE SSD opened at $157.09 on Tuesday. 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 has a 52 week low of $154.97 and a 52 week high of $208.12. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 20.67 and a beta of 1.39. The company has a fifty day moving average of $166.02 and a two-hundred day moving average of $176.81.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, February 10th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. On average, analysts predict 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 company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the completion of the sale, the executive vice president now owns 8,810 shares in the company, valued at $1,497,523.80. This represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Simpson Manufacturing by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,204,871 shares of the construction company’s stock valued at $697,294,000 after purchasing an additional 31,164 shares in the last quarter. FMR LLC lifted its position in shares of Simpson Manufacturing by 24.2% during the third quarter. FMR LLC now owns 1,710,358 shares of the construction company’s stock valued at $327,140,000 after buying an additional 333,390 shares during the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Simpson Manufacturing by 4.6% during the fourth quarter. Baker Avenue Asset Management LP now owns 1,399,918 shares of the construction company’s stock valued at $232,148,000 after buying an additional 62,165 shares during the last quarter. State Street Corp boosted its holdings in shares of Simpson Manufacturing by 1.7% in the 3rd quarter. State Street Corp now owns 1,256,820 shares of the construction company’s stock valued at $240,392,000 after buying an additional 20,404 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Simpson Manufacturing by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 710,166 shares of the construction company’s stock worth $117,804,000 after buying an additional 2,502 shares during the last quarter. 93.68% of the stock is currently 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.