Smith Douglas Homes (NYSE:SDHC) Trading Up 6.2% – What’s Next?

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price shot up 6.2% during mid-day trading on Tuesday . The stock traded as high as $14.09 and last traded at $14.09. Approximately 118,026 shares changed hands during trading, an increase of 6% from the average daily volume of 111,704 shares. The stock had previously closed at $13.27.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citizens Jmp started coverage on shares of Smith Douglas Homes in a research note on Tuesday, March 24th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Zelman & Associates started coverage on shares of Smith Douglas Homes in a research report on Monday, April 6th. They set a “neutral” rating and a $13.50 price target on the stock. Wells Fargo & Company reduced their price target on shares of Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Finally, Zacks Research raised shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $13.90.

Smith Douglas Homes Trading Up 4.4%

The company has a fifty day moving average price of $13.09 and a two-hundred day moving average price of $15.76. The firm has a market cap of $702.33 million, a P/E ratio of 14.56 and a beta of 1.13.

Smith Douglas Homes (NYSE:SDHC) last posted its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Smith Douglas Homes had a negative return on equity of 0.78% and a net margin of 0.90%.The business had revenue of $206.44 million during the quarter, compared to analysts’ expectations of $200.70 million. As a group, sell-side analysts expect that Smith Douglas Homes Corp. will post 0.47 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Several institutional investors have recently added to or reduced their stakes in the stock. Conifer Management L.L.C. boosted its stake in Smith Douglas Homes by 68.3% in the 4th quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock worth $24,037,000 after purchasing an additional 581,794 shares during the period. Wasatch Advisors LP raised its stake in shares of Smith Douglas Homes by 4.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock valued at $24,845,000 after purchasing an additional 53,358 shares during the period. Wellington Management Group LLP raised its stake in shares of Smith Douglas Homes by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock valued at $19,738,000 after purchasing an additional 24,996 shares during the period. Beck Mack & Oliver LLC lifted its holdings in shares of Smith Douglas Homes by 0.4% in the fourth quarter. Beck Mack & Oliver LLC now owns 816,447 shares of the company’s stock valued at $13,692,000 after purchasing an additional 3,605 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Smith Douglas Homes by 0.9% in the third quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock valued at $7,965,000 after purchasing an additional 3,884 shares in 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. was founded in 2008 and is headquartered in Woodstock, Georgia.