DA Davidson Upgrades Simpson Manufacturing (SSD) to Buy; Pullback Provides an Attractive Entry
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Price: $193.78 -0.76%
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 6
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 6
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DA Davidson upgraded Simpson Manufacturing (NYSE: SSD) from Neutral to Buy with a price target of $37.50.
Analyst, Steven Chercover, said, "We are upgrading SSD following the recent weakness in the company’s shares, despite better than expected January U.S. housing starts and a generally more optimistic tone about the housing recovery. With shares down 13.4% since our Q4-11 update on February 3rd (presumably due to unwinding of the seasonal trade in housing related stocks) compared to flat S&P 500 performance during the same time period, we believe the decline in the company’s stock is overdone and we now see value at these levels."
"We have not changed our 2012 and 2013 estimates of earnings of $1.30 and $1.62, respectively."
For an analyst ratings summary and ratings history on Simpson Manufacturing click here. For more ratings news on Simpson Manufacturing click here.
Shares of Simpson Manufacturing closed at $29.32 yesterday.
Analyst, Steven Chercover, said, "We are upgrading SSD following the recent weakness in the company’s shares, despite better than expected January U.S. housing starts and a generally more optimistic tone about the housing recovery. With shares down 13.4% since our Q4-11 update on February 3rd (presumably due to unwinding of the seasonal trade in housing related stocks) compared to flat S&P 500 performance during the same time period, we believe the decline in the company’s stock is overdone and we now see value at these levels."
"We have not changed our 2012 and 2013 estimates of earnings of $1.30 and $1.62, respectively."
For an analyst ratings summary and ratings history on Simpson Manufacturing click here. For more ratings news on Simpson Manufacturing click here.
Shares of Simpson Manufacturing closed at $29.32 yesterday.
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