Zacks: Simpson Manufacturing Co. (SSD) Given $43.33 Average Target Price by Analysts
Simpson Manufacturing Co. (NYSE:SSD) has been assigned an average broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a hold recommendation.
Brokerages have set a 12 month consensus price objective of $43.33 for the company and are forecasting that the company will post $0.56 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Simpson Manufacturing an industry rank of 76 out of 265 based on the ratings given to related companies.
Several research analysts have weighed in on SSD shares. Sidoti started coverage on shares of Simpson Manufacturing in a research report on Friday, September 9th. They set a “neutral” rating on the stock. Zacks Investment Research lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/zacks-simpson-manufacturing-co-ssd-given-43-33-average-target-price-by-analysts.html
Shares of Simpson Manufacturing (NYSE:SSD) traded down 0.39% during trading on Tuesday, reaching $43.86. The company had a trading volume of 30,935 shares. The firm has a market capitalization of $2.12 billion, a PE ratio of 27.07 and a beta of 1.47. Simpson Manufacturing has a 1-year low of $30.25 and a 1-year high of $45.50. The firm has a 50-day moving average of $44.32 and a 200 day moving average of $40.59.
Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Thursday, July 28th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. Simpson Manufacturing had a net margin of 9.50% and a return on equity of 9.17%. The company had revenue of $230 million for the quarter, compared to analyst estimates of $227.12 million. During the same period in the prior year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts expect that Simpson Manufacturing will post $1.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Saturday, October 8th will be given a $0.18 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.72 annualized dividend and a dividend yield of 1.64%. Simpson Manufacturing’s dividend payout ratio is presently 44.44%.
In other news, COO Ricardo M. Arevalo sold 3,437 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $44.40, for a total value of $152,602.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc raised its stake in Simpson Manufacturing by 1.2% in the first quarter. Commonwealth Equity Services Inc now owns 8,189 shares of the company’s stock valued at $313,000 after buying an additional 100 shares in the last quarter. Aperio Group LLC raised its stake in Simpson Manufacturing by 2.3% in the first quarter. Aperio Group LLC now owns 10,440 shares of the company’s stock valued at $398,000 after buying an additional 236 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Simpson Manufacturing by 616.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 45,195 shares of the company’s stock valued at $1,725,000 after buying an additional 38,885 shares in the last quarter. Prudential Financial Inc. raised its stake in Simpson Manufacturing by 6.8% in the first quarter. Prudential Financial Inc. now owns 101,896 shares of the company’s stock valued at $3,889,000 after buying an additional 6,450 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Simpson Manufacturing by 135.5% in the first quarter. BlackRock Inc. now owns 3,073 shares of the company’s stock valued at $117,000 after buying an additional 1,768 shares in the last quarter. Institutional investors and hedge funds own 81.48% of the company’s stock.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems and lateral systems used in light-frame construction. It also offers concrete construction products used for concrete, masonry, steel and for concrete repair, protection and strengthening, including adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforced materials.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Simpson Manufacturing Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing Co. and related companies with MarketBeat.com's FREE daily email newsletter.