Azzad Asset Management Inc. ADV Grows Holdings in Smith Douglas Homes Corp. (NYSE:SDHC)

Azzad Asset Management Inc. ADV grew its stake in Smith Douglas Homes Corp. (NYSE:SDHC) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,579 shares of the company’s stock after buying an additional 349 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Smith Douglas Homes were worth $437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norden Group LLC purchased a new position in Smith Douglas Homes in the 1st quarter worth approximately $2,331,000. Sei Investments Co. bought a new stake in shares of Smith Douglas Homes in the 1st quarter worth approximately $1,015,000. Capstone Investment Advisors LLC bought a new stake in shares of Smith Douglas Homes in the 1st quarter worth approximately $1,625,000. Lisanti Capital Growth LLC bought a new stake in shares of Smith Douglas Homes in the 1st quarter worth approximately $3,973,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in shares of Smith Douglas Homes in the 1st quarter worth approximately $565,000.

Smith Douglas Homes Trading Up 4.2 %

NYSE:SDHC opened at $38.32 on Wednesday. The company has a fifty day moving average of $35.29 and a 200 day moving average of $29.75. Smith Douglas Homes Corp. has a 52 week low of $20.55 and a 52 week high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $220.90 million for 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. On average, sell-side analysts predict that Smith Douglas Homes Corp. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, August 15th. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Finally, Bank of America boosted their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and an average target price of $31.50.

Smith Douglas Homes 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.