Smith Douglas Homes Corp. (NYSE:SDHC – Get Free Report)’s stock price traded up 6.2% during mid-day trading on Tuesday . The stock traded as high as $14.09 and last traded at $14.09. 118,026 shares were traded during mid-day trading, an increase of 6% from the average session volume of 111,704 shares. The stock had previously closed at $13.27.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Tuesday, April 21st. JPMorgan Chase & Co. cut their target price on Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Zelman & Associates assumed coverage on Smith Douglas Homes in a research note on Monday, April 6th. They set a “neutral” rating and a $13.50 target price on the stock. Wells Fargo & Company dropped their price target on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 12th. Finally, Zacks Research raised Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $13.90.
Check Out Our Latest Stock Report on Smith Douglas Homes
Smith Douglas Homes Stock Performance
Smith Douglas Homes (NYSE:SDHC – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 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 company had revenue of $206.44 million for the quarter, compared to analysts’ expectations of $200.70 million. Research analysts anticipate that Smith Douglas Homes Corp. will post 0.47 EPS for the current fiscal year.
Hedge Funds Weigh In On Smith Douglas Homes
Several large investors have recently made changes to their positions in the business. Conifer Management L.L.C. lifted its position in shares of 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 acquiring an additional 581,794 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Smith Douglas Homes by 4.4% in the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock worth $24,845,000 after buying an additional 53,358 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Smith Douglas Homes by 2.2% in the fourth quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock worth $19,738,000 after buying an additional 24,996 shares in the last quarter. Beck Mack & Oliver LLC lifted its position 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 worth $13,692,000 after buying an additional 3,605 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position 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 worth $7,965,000 after buying an additional 3,884 shares in the last quarter.
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. was founded in 2008 and is headquartered in Woodstock, Georgia.
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