Robert W. Baird Lowers Simpson Manufacturing (SSD) to Neutral

Simpson Manufacturing (NYSE:SSD) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Monday, MarketBeat.com reports. They currently have a $72.00 price objective on the construction company’s stock, down from their prior price objective of $75.00. Robert W. Baird’s price target suggests a potential upside of 11.70% from the company’s current price.

A number of other research firms have also recently issued reports on SSD. Sidoti upgraded shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 31st. ValuEngine upgraded shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, Zacks Investment Research upgraded shares of Simpson Manufacturing from a “sell” rating to a “hold” rating and set a $82.00 target price for the company in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $74.00.

NYSE SSD opened at $64.46 on Monday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 4.74 and a beta of 1.59. Simpson Manufacturing has a 12-month low of $48.32 and a 12-month high of $78.36.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, July 30th. The construction company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.21. The firm had revenue of $308.01 million during the quarter, compared to analysts’ expectations of $282.02 million. Simpson Manufacturing had a net margin of 10.58% and a return on equity of 12.61%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. Equities research analysts predict that Simpson Manufacturing will post 3.06 EPS for the current fiscal year.

In other news, Director James S. Andrasick sold 1,950 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $73.43, for a total value of $143,188.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Sei Investments Co. lifted its stake in shares of Simpson Manufacturing by 56.1% in the second quarter. Sei Investments Co. now owns 2,485 shares of the construction company’s stock worth $154,000 after buying an additional 893 shares during the last quarter. Amalgamated Bank increased its position in Simpson Manufacturing by 15.3% during the second quarter. Amalgamated Bank now owns 6,776 shares of the construction company’s stock worth $421,000 after acquiring an additional 900 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Simpson Manufacturing by 31.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,920 shares of the construction company’s stock worth $244,000 after acquiring an additional 939 shares during the period. Legal & General Group Plc increased its position in Simpson Manufacturing by 1.1% during the first quarter. Legal & General Group Plc now owns 86,324 shares of the construction company’s stock worth $4,954,000 after acquiring an additional 943 shares during the period. Finally, Xact Kapitalforvaltning AB increased its position in Simpson Manufacturing by 26.1% during the first quarter. Xact Kapitalforvaltning AB now owns 4,837 shares of the construction company’s stock worth $279,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.

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