Simpson Manufacturing (NYSE:SSD) Price Target Cut to $185.00 by Analysts at DA Davidson

Simpson Manufacturing (NYSE:SSD) had its price target cut by DA Davidson from $195.00 to $185.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. DA Davidson’s price objective would suggest a potential upside of 13.03% from the stock’s current price.

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

Simpson Manufacturing Trading Down 0.8 %

Simpson Manufacturing stock opened at $163.67 on Tuesday. Simpson Manufacturing has a 12-month low of $154.97 and a 12-month high of $210.08. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 21.54 and a beta of 1.39. The firm has a 50 day moving average of $166.33 and a 200 day moving average of $177.14. The company has a current ratio of 3.21, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate 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, research analysts predict that Simpson Manufacturing will post 8.29 earnings per share for the current year.

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Simpson Manufacturing

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Simpson Manufacturing by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,204,871 shares of the construction company’s stock worth $697,294,000 after acquiring an additional 31,164 shares during the period. FMR LLC raised its holdings in Simpson Manufacturing by 24.2% in the 3rd quarter. FMR LLC now owns 1,710,358 shares of the construction company’s stock worth $327,140,000 after purchasing an additional 333,390 shares during the period. Baker Avenue Asset Management LP boosted its position in 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 worth $232,148,000 after purchasing an additional 62,165 shares in the last quarter. State Street Corp grew its holdings in Simpson Manufacturing by 1.7% in the third quarter. State Street Corp now owns 1,256,820 shares of the construction company’s stock valued at $240,392,000 after purchasing an additional 20,404 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Simpson Manufacturing by 0.4% during 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 period. 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.