Baird analyst Timothy Wojs raised the firm’s price target on Simpson Manufacturing (SSD) to $218 from $202 and keeps an Outperform rating on the shares. The firm said its Q3 shortfall similar to recent quarters with weaker starts activity and margin deleverage. The company leaned into investments in 2024, positive for longer-term share gain opportunities, but exacerbating the weaker-than-expected volumes.
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Read More on SSD:
- Simpson Manufacturing sees FY24 CapEx $175M-$185M vs. prior $180M-$190M
- Simpson Manufacturing reports Q3 EPS $2.21, consensus $2.40
- Simpson Manufacturing price target raised to $218 from $202 at Baird
- Simpson Manufacturing (SSD) Q3 Earnings Cheat Sheet
- Simpson Manufacturing Co Announces Upcoming Investor Presentation
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