Simpson Manufacturing Co (NYSE:SSD) reported better-than-expected earnings for the first quarter on Monday.

The company posted quarterly earnings of $2.13 per share which beat the analyst consensus estimate of $1.88 per share. The company reported quarterly sales of $587.964 million which beat the analyst consensus estimate of $552.263 million.

“Simpson delivered a solid first quarter with net sales up 9.1% year‑over‑year to $588.0 million and operating margin improvement of 50 basis points to 19.5%,” said Mike Olosky, President and Chief Executive Officer of Simpson Manufacturing Co., Inc. “Net sales growth was primarily driven by our 2025 pricing actions which contributed approximately 6%. Foreign exchange added an additional 3%, partially offset by a 1% decline in volume tied to softer housing start activity. Additionally, the cost savings initiatives we implemented last year contributed to improved operating income. I want to thank our team at Simpson for maintaining strong cost discipline throughout the quarter.”

Simpson Manufacturing shares rose 2.1% to trade at $190.33 on Tuesday.

These analysts made changes to their price targets on Simpson Manufacturing following earnings announcement.

  • Baird analyst Timothy Wojs maintained Simpson Manufacturing with an Outperform rating and raised the price target from $216 to $220.
  • Stifel analyst W. Andrew Carter maintained the stock with a Buy and raised the price target from $205 to $217.
  • Stephens & Co. analyst Trey Grooms maintained the stock with an Equal-Weight rating and raised the price target from $200 to $210.
  • DA Davidson analyst Kurt Yinger maintained the stock with a Neutral and raised the price target from $200 to $212.

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