Smith Douglas Homes (NYSE:SDHC) Sets New 12-Month Low – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price hit a new 52-week low on Friday . The company traded as low as $18.77 and last traded at $18.80, with a volume of 28233 shares traded. The stock had previously closed at $20.48.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SDHC. Wells Fargo & Company reduced their price target on shares of Smith Douglas Homes from $24.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. cut their price target on 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 Smith Douglas Homes from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock 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 assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.80.

Smith Douglas Homes Stock Down 7.5 %

The company has a market capitalization of $971.38 million, a PE ratio of 10.76, a price-to-earnings-growth ratio of 6.87 and a beta of 1.44. The stock’s 50 day moving average is $22.30 and its two-hundred day moving average is $28.86.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. The business had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. 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 added to or reduced their stakes in SDHC. Two Sigma Investments LP lifted its position in Smith Douglas Homes by 366.3% during the fourth quarter. Two Sigma Investments LP now owns 27,550 shares of the company’s stock worth $706,000 after buying an additional 21,642 shares in the last quarter. Millennium Management LLC increased its stake in Smith Douglas Homes by 50.0% during the 4th quarter. Millennium Management LLC now owns 56,459 shares of the company’s stock worth $1,448,000 after buying an additional 18,810 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Smith Douglas Homes during the 4th quarter worth about $456,000. Corton Capital Inc. lifted its stake in Smith Douglas Homes by 61.8% in the fourth quarter. Corton Capital Inc. now owns 25,229 shares of the company’s stock worth $647,000 after acquiring an additional 9,640 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Smith Douglas Homes by 69.9% during the 4th quarter. Jane Street Group LLC now owns 23,837 shares of the company’s stock worth $611,000 after buying an additional 9,805 shares during the last quarter.

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.