Smith Douglas Homes (NYSE:SDHC) Stock Price Up 3.2% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price rose 3.2% during mid-day trading on Thursday . The stock traded as high as $20.78 and last traded at $20.75. Approximately 14,184 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 114,493 shares. The stock had previously closed at $20.10.

Wall Street Analysts Forecast Growth

SDHC has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Smith Douglas Homes from $24.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. lowered their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Bank of America cut shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $22.00 in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.80.

Smith Douglas Homes Stock Performance

The firm’s 50-day moving average is $22.71 and its 200 day moving average is $29.40. The stock has a market cap of $1.04 billion, a PE ratio of 11.50, a P/E/G ratio of 6.87 and a beta of 1.44.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $287.49 million during the quarter, compared to the consensus estimate of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. On average, sell-side analysts predict that Smith Douglas Homes Corp. will post 1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Smith Douglas Homes

A number of large investors have recently bought and sold shares of SDHC. Atria Investments Inc purchased a new position in Smith Douglas Homes during the 3rd quarter worth $204,000. Victory Capital Management Inc. purchased a new position in Smith Douglas Homes during the 3rd quarter worth $349,000. Daiwa Securities Group Inc. raised its position in Smith Douglas Homes by 31.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock worth $1,114,000 after buying an additional 7,015 shares during the last quarter. Quantbot Technologies LP raised its position in Smith Douglas Homes by 287.0% during the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after buying an additional 2,738 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Smith Douglas Homes during the 3rd quarter worth $591,000.

About Smith Douglas Homes

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.