Simpson Manufacturing (NYSE:SSD) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a buy rating in a report released on Friday, ValuEngine reports.

A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Simpson Manufacturing from a hold rating to a sell rating in a report on Tuesday, July 30th. Sidoti downgraded Simpson Manufacturing from a buy rating to a neutral rating and lowered their target price for the company from $72.00 to $60.00 in a report on Tuesday, July 30th.

Simpson Manufacturing stock opened at $63.39 on Friday. Simpson Manufacturing has a one year low of $49.54 and a one year high of $78.36. The stock has a market capitalization of $2.79 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 4.57 and a beta of 1.42. The business’s fifty day moving average is $64.26 and its 200 day moving average is $62.61.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, July 29th. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.14). Simpson Manufacturing had a net margin of 11.21% and a return on equity of 14.69%. The business had revenue of $304.90 million for the quarter, compared to analysts’ expectations of $323.71 million. During the same period last year, the business earned $0.94 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, research analysts anticipate that Simpson Manufacturing will post 2.73 earnings per share for the current fiscal year.

In other Simpson Manufacturing news, Director Greenway Robin Macgillivray sold 1,475 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $61.56, for a total value of $90,801.00. Following the transaction, the director now owns 12,470 shares of the company’s stock, valued at $767,653.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SSD. Penserra Capital Management LLC bought a new position in shares of Simpson Manufacturing in the first quarter worth about $27,000. Point72 Asset Management L.P. bought a new position in shares of Simpson Manufacturing in the second quarter worth about $53,000. TCI Wealth Advisors Inc. bought a new position in shares of Simpson Manufacturing in the second quarter worth about $66,000. Point72 Hong Kong Ltd raised its stake in shares of Simpson Manufacturing by 107.5% in the second quarter. Point72 Hong Kong Ltd now owns 1,502 shares of the construction company’s stock worth $100,000 after buying an additional 778 shares during the period. Finally, ETF Managers Group LLC raised its stake in shares of Simpson Manufacturing by 8.7% in the first quarter. ETF Managers Group LLC now owns 2,504 shares of the construction company’s stock worth $148,000 after buying an additional 201 shares during the period. 89.75% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Company Profile

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, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, 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, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.

Further Reading: Why do companies issue convertible shares?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Simpson Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.