Simpson Manufacturing (SSD) Downgraded by DA Davidson to Neutral
Simpson Manufacturing (NYSE:SSD) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued on Thursday. They currently have a $60.00 target price on the construction company’s stock. DA Davidson’s price target indicates a potential upside of 4.37% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Robert W. Baird raised shares of Simpson Manufacturing from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $58.00 in a report on Tuesday, October 31st.
Simpson Manufacturing (SSD) opened at $57.49 on Thursday. Simpson Manufacturing has a 1-year low of $39.82 and a 1-year high of $61.62. The company has a market cap of $2,666.60, a price-to-earnings ratio of 30.63, a PEG ratio of 6.01 and a beta of 1.52.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. bought a new stake in Simpson Manufacturing in the third quarter worth $103,000. Riverhead Capital Management LLC increased its position in Simpson Manufacturing by 62.3% in the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the construction company’s stock worth $114,000 after purchasing an additional 996 shares during the last quarter. SG Americas Securities LLC bought a new stake in Simpson Manufacturing in the second quarter worth $148,000. Verity Asset Management Inc. bought a new stake in Simpson Manufacturing in the second quarter worth $205,000. Finally, Neuberger Berman Group LLC bought a new stake in Simpson Manufacturing in the third quarter worth $230,000. Institutional investors own 84.57% of the company’s stock.
Simpson Manufacturing Company Profile
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, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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