Smith Douglas Homes (NYSE:SDHC) Shares Down 3.2% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC) traded down 3.2% during mid-day trading on Monday . The stock traded as low as $20.03 and last traded at $20.07. 26,122 shares were traded during mid-day trading, a decline of 71% from the average session volume of 89,763 shares. The stock had previously closed at $20.73.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SDHC shares. Bank of America cut Smith Douglas Homes from a “neutral” rating to an “underperform” rating and cut their target price for the company from $33.00 to $22.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. cut their price target on shares of 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. Finally, Wells Fargo & Company reduced their price objective on Smith Douglas Homes from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.80.

Smith Douglas Homes Stock Performance

The business’s fifty day simple moving average is $22.60 and its 200-day simple moving average is $29.13. The company has a market capitalization of $1.03 billion, a P/E ratio of 11.46, a P/E/G ratio of 6.87 and a beta of 1.44.

Smith Douglas Homes (NYSE:SDHC) last announced its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $287.49 million for 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%. As a group, analysts forecast that Smith Douglas Homes Corp. will post 1.73 EPS for the current year.

Institutional Trading of Smith Douglas Homes

Several hedge funds have recently modified their holdings of SDHC. Geode Capital Management LLC grew its position in Smith Douglas Homes by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 90,038 shares of the company’s stock worth $2,310,000 after purchasing an additional 457 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Smith Douglas Homes during the 4th quarter valued at about $27,000. Quantbot Technologies LP increased its holdings in Smith Douglas Homes by 287.0% in the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after buying an additional 2,738 shares during the period. XTX Topco Ltd acquired a new stake in Smith Douglas Homes during the 3rd quarter valued at approximately $246,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Smith Douglas Homes by 31.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock valued at $1,114,000 after acquiring an additional 7,015 shares during the last quarter.

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.