Wells Fargo & Company Cuts Smith Douglas Homes (NYSE:SDHC) Price Target to $18.00

Smith Douglas Homes (NYSE:SDHC) had its price target dropped by research analysts at Wells Fargo & Company from $20.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 4.17% from the company’s current price.

Several other analysts have also recently commented on the stock. Zacks Research upgraded shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Wednesday, October 8th. Bank of America reduced their target price on Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, October 10th. Finally, Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $16.90.

Smith Douglas Homes Price Performance

Shares of SDHC stock traded up $0.52 on Friday, reaching $17.28. 53,451 shares of the stock were exchanged, compared to its average volume of 81,085. Smith Douglas Homes has a one year low of $15.00 and a one year high of $37.90. The stock has a market cap of $889.06 million, a PE ratio of 13.82, a P/E/G ratio of 11.76 and a beta of 0.96. The stock has a 50 day moving average price of $17.82 and a 200 day moving average price of $18.86.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.38). Smith Douglas Homes had a return on equity of 0.12% and a net margin of 1.13%.The business had revenue of $262.04 million for the quarter, compared to the consensus estimate of $251.41 million. On average, research analysts expect that Smith Douglas Homes will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds have recently modified their holdings of SDHC. Raymond James Financial Inc. bought a new position in shares of Smith Douglas Homes during the 2nd quarter valued at about $34,000. Tower Research Capital LLC TRC acquired a new stake in Smith Douglas Homes in the 2nd quarter valued at approximately $90,000. GSA Capital Partners LLP bought a new stake in Smith Douglas Homes during the 3rd quarter worth about $188,000. M&T Bank Corp boosted its stake in shares of Smith Douglas Homes by 8.4% during the 1st quarter. M&T Bank Corp now owns 11,001 shares of the company’s stock worth $215,000 after buying an additional 848 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in shares of Smith Douglas Homes in the 3rd quarter valued at about $195,000.

Smith Douglas Homes Company Profile

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.