Smith Douglas Homes (NYSE:SDHC) Sees Unusually-High Trading Volume

Smith Douglas Homes Corp. (NYSE:SDHC) shares saw unusually-strong trading volume on Friday . Approximately 167,394 shares changed hands during trading, an increase of 14% from the previous session’s volume of 146,613 shares.The stock last traded at $22.56 and had previously closed at $22.37.

Wall Street Analyst Weigh In

Several research analysts have commented on SDHC shares. Wells Fargo & Company boosted their price objective on shares of Smith Douglas Homes from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price target on shares of Smith Douglas Homes in a report on Thursday, March 21st. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price target (down from $21.00) on shares of Smith Douglas Homes in a report on Tuesday, May 14th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.10.

Smith Douglas Homes Stock Performance

The business’s 50 day moving average price is $26.69.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $189.21 million for the quarter, compared to analysts’ expectations of $187.43 million. As a group, analysts expect that Smith Douglas Homes Corp. will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SDHC. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Smith Douglas Homes during the 1st quarter worth $565,000. Rokos Capital Management LLP bought a new stake in shares of Smith Douglas Homes during the 1st quarter worth $1,786,000. Zimmer Partners LP bought a new stake in shares of Smith Douglas Homes during the 1st quarter worth $9,652,000. Sandia Investment Management LP purchased a new position in Smith Douglas Homes in the 1st quarter worth $178,000. Finally, Hood River Capital Management LLC purchased a new position in Smith Douglas Homes in the 1st quarter worth $14,321,000.

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.