Wall Street Zen Upgrades Simpson Manufacturing (NYSE:SSD) to Buy

Simpson Manufacturing (NYSE:SSD) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. Stephens set a $200.00 target price on shares of Simpson Manufacturing in a research report on Tuesday, February 10th. DA Davidson upped their price target on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Finally, Robert W. Baird set a $222.00 price target on Simpson Manufacturing in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Simpson Manufacturing currently has a consensus rating of “Moderate Buy” and an average target price of $207.33.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $193.57 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.99 and a current ratio of 3.54. The stock has a market capitalization of $8.03 billion, a P/E ratio of 23.46 and a beta of 1.37. The company’s fifty day moving average is $184.19 and its two-hundred day moving average is $178.99. Simpson Manufacturing has a 1 year low of $137.35 and a 1 year high of $211.98.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The firm had revenue of $539.35 million during the quarter, compared to the consensus estimate of $530.70 million. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. On average, sell-side analysts predict that Simpson Manufacturing will post 8.29 earnings per share for the current year.

Insider Buying and Selling at Simpson Manufacturing

In other news, Director Philip E. Donaldson sold 2,375 shares of Simpson Manufacturing stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $168.16, for a total transaction of $399,380.00. Following the sale, the director owned 6,086 shares in the company, valued at $1,023,421.76. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by insiders.

Institutional Trading of Simpson Manufacturing

Several large investors have recently modified their holdings of SSD. Bank of Montreal Can boosted its holdings in Simpson Manufacturing by 11,044.7% in the fourth quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock valued at $109,556,000 after purchasing an additional 672,402 shares during the last quarter. Norges Bank acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at approximately $85,140,000. Victory Capital Management Inc. boosted its stake in shares of Simpson Manufacturing by 6,234.7% during the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock valued at $64,257,000 after buying an additional 391,665 shares during the last quarter. Capital International Investors boosted its stake in shares of Simpson Manufacturing by 93.7% during the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock valued at $107,086,000 after buying an additional 320,870 shares during the last quarter. Finally, ValueAct Holdings L.P. grew its position in shares of Simpson Manufacturing by 21.9% during the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock worth $237,707,000 after buying an additional 264,200 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Company Profile

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.