Wells Fargo & Company Has Lowered Expectations for Smith Douglas Homes (NYSE:SDHC) Stock Price

Smith Douglas Homes (NYSE:SDHC) had its target price dropped by equities research analysts at Wells Fargo & Company from $24.00 to $21.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.91% from the stock’s current price.

Several other research analysts also recently commented on SDHC. Bank of America downgraded Smith Douglas Homes from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $33.00 to $22.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. lowered their target price on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.80.

Smith Douglas Homes Stock Up 2.4 %

SDHC opened at $19.64 on Thursday. Smith Douglas Homes has a twelve month low of $19.00 and a twelve month high of $39.50. The company has a 50-day simple moving average of $23.02 and a 200 day simple moving average of $29.97.

Smith Douglas Homes (NYSE:SDHC) last issued its earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $287.49 million during the quarter, compared to the consensus estimate of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. Sell-side analysts anticipate that Smith Douglas Homes will post 1.73 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Smith Douglas Homes by 1,551.9% in the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock valued at $806,000 after buying an additional 20,051 shares during the period. Atria Investments Inc acquired a new position in shares of Smith Douglas Homes in the third quarter valued at approximately $204,000. BNP Paribas Financial Markets acquired a new stake in Smith Douglas Homes during the 3rd quarter valued at approximately $591,000. Jane Street Group LLC acquired a new stake in Smith Douglas Homes during the 3rd quarter valued at approximately $530,000. Finally, Daiwa Securities Group Inc. increased its position in Smith Douglas Homes by 31.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock valued at $1,114,000 after purchasing an additional 7,015 shares during the period.

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.