Wells Fargo & Company Issues Pessimistic Forecast for Smith Douglas Homes (NYSE:SDHC) Stock Price

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

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

Smith Douglas Homes Trading Up 3.1%

NYSE:SDHC opened at $17.28 on Friday. The business’s fifty day moving average price is $17.77 and its 200 day moving average price is $18.85. The firm has a market capitalization of $889.06 million, a price-to-earnings ratio of 13.82, a PEG ratio of 11.64 and a beta of 0.96. Smith Douglas Homes has a 1-year low of $15.00 and a 1-year high of $37.90.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.12) EPS 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 analyst estimates of $251.41 million. Equities analysts forecast that Smith Douglas Homes will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Smith Douglas Homes in the second quarter worth $34,000. Tower Research Capital LLC TRC acquired a new stake in shares of Smith Douglas Homes in the second quarter worth about $90,000. GSA Capital Partners LLP bought a new stake in shares of 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 acquiring an additional 848 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Smith Douglas Homes during 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.