Simpson Manufacturing (SSD) PT Lowered to $205 at Stephens

Stephens analyst Trey Grooms lowered the price target on Simpson Manufacturing (NYSE: SSD) to $205.00 (from $215.00) while maintaining a Equal Weight rating.

The analyst commented: "3Q results beat on better-than-expected volume and operating leverage / cost-outs, while GM missed on increased raw material and freight costs. Adj. EBITDA margin of 26.2% was ahead of our 23%/ Street's 24.3% estimate. Full-year operating margin guidance was raised modestly, in conjunction with the 3Q beat, though implied 4Q operating margin (ex: land sale benefit) moved lower, primarily due to GM pressure from higher freight and raw steel costs. SSD plans to announce offsetting price increases in the coming weeks, and we would expect a margin catch up as we progress into the 2027 building season. Encouragingly, SSD also announced a $1 billion open-ended share repurchase authorization. We remain encouraged by SSD's strong execution in a tough operating environment, though we generally remain cautious on an incrementally softer CY27 housing backdrop. We reiterate EW. Our price target goes to $205 (from $215)."

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