Smith Douglas Homes (NYSE:SDHC) Shares Down 6.2%

Smith Douglas Homes Corp. (NYSE:SDHC) shares fell 6.2% during mid-day trading on Monday . The stock traded as low as $32.74 and last traded at $35.16. 87,769 shares traded hands during trading, a decline of 42% from the average session volume of 150,675 shares. The stock had previously closed at $37.47.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Smith Douglas Homes from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, August 15th. Bank of America boosted their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wedbush reissued a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and an average price target of $30.50.

Smith Douglas Homes Stock Down 4.8 %

The company has a fifty day moving average price of $33.48 and a two-hundred day moving average price of $29.24.

Smith Douglas Homes (NYSE:SDHC) last released its earnings results on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $220.90 million during the quarter, compared to the consensus estimate of $208.02 million. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Analysts forecast that Smith Douglas Homes Corp. will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of large investors have recently made changes to their positions in SDHC. SYSTM Wealth Solutions LLC purchased a new stake in shares of Smith Douglas Homes in the first quarter worth approximately $76,000. RiverPark Advisors LLC acquired a new position in shares of Smith Douglas Homes in the second quarter worth $120,000. Sandia Investment Management LP purchased a new stake in shares of Smith Douglas Homes during the first quarter worth $178,000. Azzad Asset Management Inc. ADV acquired a new position in Smith Douglas Homes in the 1st quarter worth about $331,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Smith Douglas Homes during the 1st quarter worth about $565,000.

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.