FBR & Co. Initiates Coverage on Simpson Manufacturing (SSD)
Stock analysts at FBR & Co. began coverage on shares of Simpson Manufacturing (NYSE:SSD) in a report issued on Friday, Stock Ratings Network reports. The firm set a “market perform” rating on the stock.
Simpson Manufacturing (NYSE:SSD) opened at 32.72 on Friday. Simpson Manufacturing has a 1-year low of $27.49 and a 1-year high of $34.33. The stock’s 50-day moving average is $31.90 and its 200-day moving average is $30.53. The company has a market cap of $1.578 billion and a P/E ratio of 37.61.
Simpson Manufacturing (NYSE:SSD) last released its earnings data on Thursday, July 25th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.33 by $0.05. The company had revenue of $195.60 million for the quarter, compared to the consensus estimate of $192.52 million. During the same quarter last year, the company posted $0.33 earnings per share. Simpson Manufacturing’s revenue was up 7.6% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets initiated coverage on shares of Simpson Manufacturing (NYSE:SSD) in a research note to investors on Friday. They set a “market perform” rating and a $36.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Simpson Manufacturing (NYSE:SSD) from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday. They now have a $30.80 price target on the stock. Finally, analysts at TheStreet upgraded shares of Simpson Manufacturing (NYSE:SSD) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Simpson Manufacturing has a consensus rating of “Hold” and a consensus target price of $32.93.
Simpson Manufacturing Co, Inc through its subsidiary, Simpson Strong-Tie Company Inc (NYSE:SSD), designs, engineers and is a manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated shearwalls, and concrete construction products used for concrete, masonry and steel, including adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforcing materials.
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