Smith Douglas Homes (NYSE:SDHC) Shares Down 11.1% – Here’s Why

Smith Douglas Homes Corp. (NYSE:SDHC) dropped 11.1% on Thursday . The stock traded as low as $13.64 and last traded at $13.83. Approximately 17,401 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 100,106 shares. The stock had previously closed at $15.55.

Analyst Upgrades and Downgrades

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

Smith Douglas Homes Trading Down 9.5%

The company’s fifty day simple moving average is $14.44 and its 200 day simple moving average is $14.69. The stock has a market capitalization of $714.47 million, a P/E ratio of 14.81 and a beta of 0.88.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. Smith Douglas Homes had a net margin of 0.90% and a negative return on equity of 0.78%. Equities research analysts predict that Smith Douglas Homes Corp. will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On Smith Douglas Homes

A number of institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC grew its holdings in shares of Smith Douglas Homes by 14.2% during the fourth quarter. First Eagle Investment Management LLC now owns 378,774 shares of the company’s stock worth $6,352,000 after purchasing an additional 47,100 shares in the last quarter. Conifer Management L.L.C. raised its stake in Smith Douglas Homes by 68.3% in the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock valued at $24,037,000 after purchasing an additional 581,794 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Smith Douglas Homes by 13.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 37,859 shares of the company’s stock valued at $635,000 after purchasing an additional 4,608 shares in the last quarter. Quent Capital LLC purchased a new stake in Smith Douglas Homes in the fourth quarter valued at approximately $386,000. Finally, VARCOV Co. bought a new stake in Smith Douglas Homes during the fourth quarter valued at approximately $200,000.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.