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

Simpson Manufacturing (NYSE:SSD) had its price objective hoisted by stock analysts at Robert W. Baird from $205.00 to $215.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective suggests a potential upside of 16.61% from the company’s previous close.

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

Simpson Manufacturing Trading Up 1.3 %

Shares of SSD stock opened at $184.37 on Thursday. Simpson Manufacturing has a 1 year low of $111.29 and a 1 year high of $218.38. The firm’s fifty day simple moving average is $197.56 and its 200 day simple moving average is $178.01. The firm has a market capitalization of $7.83 billion, a P/E ratio of 22.32 and a beta of 1.30. The company has a current ratio of 3.63, a quick ratio of 2.11 and a debt-to-equity ratio of 0.27.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, February 5th. The construction company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Simpson Manufacturing had a return on equity of 22.06% and a net margin of 15.99%. The business had revenue of $501.70 million for the quarter, compared to analyst estimates of $482.98 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Simpson Manufacturing will post 8.74 EPS for the current year.

Insider Activity

In other news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $184.16, for a total value of $156,536.00. Following the sale, the executive vice president now owns 27,330 shares in the company, valued at approximately $5,033,092.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $184.16, for a total value of $156,536.00. Following the sale, the executive vice president now owns 27,330 shares in the company, valued at approximately $5,033,092.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction of $179,776.32. Following the completion of the sale, the director now owns 14,638 shares in the company, valued at approximately $2,817,522.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,634 shares of company stock worth $927,460. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSD. Contravisory Investment Management Inc. bought a new stake in Simpson Manufacturing during the 4th quarter worth about $29,000. Rise Advisors LLC bought a new stake in shares of Simpson Manufacturing in the 1st quarter valued at about $37,000. Headlands Technologies LLC bought a new stake in shares of Simpson Manufacturing in the 4th quarter valued at about $37,000. GAMMA Investing LLC bought a new stake in shares of Simpson Manufacturing in the 4th quarter valued at about $35,000. Finally, Arlington Trust Co LLC bought a new stake in shares of Simpson Manufacturing in the 3rd quarter valued at about $31,000. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Company Profile

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.