Smith Douglas Homes Corp. (NYSE:SDHC – Get Free Report) shares traded up 4% during mid-day trading on Friday . The stock traded as high as $12.64 and last traded at $12.64. Approximately 861 shares changed hands during trading, a decline of 99% from the average daily volume of 94,880 shares. The stock had previously closed at $12.15.
Wall Street Analysts Forecast Growth
A number of analysts 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 note on Friday, May 15th. Wall Street Zen raised shares of 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 report on Friday, July 17th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $13.90.
Read Our Latest Stock Report on SDHC
Smith Douglas Homes Stock Performance
Smith Douglas Homes (NYSE:SDHC – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). Smith Douglas Homes had a negative return on equity of 0.19% and a net margin of 0.64%.The firm had revenue of $273.03 million for the quarter, compared to analysts’ expectations of $258.10 million. As a group, equities research analysts predict that Smith Douglas Homes Corp. will post 0.25 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in SDHC. Conifer Management L.L.C. acquired a new stake in Smith Douglas Homes in the second quarter valued at approximately $22,274,259,000. Wasatch Advisors LP grew its holdings in Smith Douglas Homes by 4.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock valued at $24,845,000 after buying an additional 53,358 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Smith Douglas Homes by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock valued at $19,738,000 after acquiring an additional 24,996 shares during the last quarter. Beck Mack & Oliver LLC raised its stake in Smith Douglas Homes by 0.4% during the fourth quarter. Beck Mack & Oliver LLC now owns 816,447 shares of the company’s stock worth $13,692,000 after purchasing an additional 3,605 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 3,884 shares during 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.
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