Smith Douglas Homes (NYSE:SDHC) Sets New 1-Year Low on Analyst Downgrade

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) hit a new 52-week low during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $24.00 to $21.00. Wells Fargo & Company currently has an equal weight rating on the stock. Smith Douglas Homes traded as low as $19.01 and last traded at $19.47, with a volume of 38064 shares. The stock had previously closed at $20.70.

A number of other brokerages have also commented on SDHC. Bank of America lowered shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $33.00 to $22.00 in a report on Monday, January 27th. JPMorgan Chase & Co. dropped their price target on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and a consensus target price of $24.80.

Institutional Trading of Smith Douglas Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in SDHC. Arcadia Investment Management Corp MI bought a new stake in shares of Smith Douglas Homes in the 4th quarter valued at about $27,000. Quantbot Technologies LP lifted its position in shares of Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after buying an additional 2,738 shares during the last quarter. Atria Investments Inc bought a new position in shares of Smith Douglas Homes during the 3rd quarter worth approximately $204,000. XTX Topco Ltd acquired a new position in shares of Smith Douglas Homes during the 3rd quarter worth approximately $246,000. Finally, Trexquant Investment LP acquired a new position in shares of Smith Douglas Homes during the 4th quarter worth approximately $218,000.

Smith Douglas Homes Trading Down 7.0 %

The firm has a fifty day simple moving average of $23.12 and a 200-day simple moving average of $30.10.

Smith Douglas Homes (NYSE:SDHC) last announced its earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The business had revenue of $287.49 million during the quarter, compared to the consensus estimate of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. Equities research analysts expect that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

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.