Smith Douglas Homes (NYSE:SDHC) Stock Price Up 3.6% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC) shares were up 3.6% during trading on Thursday . The stock traded as high as $10.70 and last traded at $10.70. Approximately 5,485 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 93,188 shares. The stock had previously closed at $10.33.

Analyst Ratings Changes

SDHC has been the subject of several recent research reports. Zacks Research upgraded Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $13.90.

Smith Douglas Homes Stock Performance

The stock has a 50 day moving average of $13.96 and a two-hundred day moving average of $13.61. The stock has a market cap of $516.94 million, a PE ratio of 14.13 and a beta of 0.83.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $273.03 million for the quarter, compared to analysts’ expectations of $258.10 million. Smith Douglas Homes had a net margin of 0.64% and a negative return on equity of 0.19%. Analysts expect that Smith Douglas Homes Corp. will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in Smith Douglas Homes by 2.7% during the fourth quarter. State Street Corp now owns 42,312 shares of the company’s stock worth $710,000 after buying an additional 1,100 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Smith Douglas Homes by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 104,422 shares of the company’s stock valued at $1,752,000 after purchasing an additional 1,406 shares during the period. First Trust Advisors LP raised its position in shares of Smith Douglas Homes by 5.8% during the second quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock valued at $564,000 after buying an additional 1,583 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Smith Douglas Homes in the second quarter valued at about $34,000. Finally, Ruane Cunniff & Goldfarb L.P. grew its position in Smith Douglas Homes by 18.7% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company’s stock worth $185,000 after buying an additional 2,281 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.