Smith Douglas Homes Corp.’s (NYSE:SDHC) Lock-Up Period Set To Expire on July 9th

Smith Douglas Homes’ (NYSE:SDHC) lock-up period is set to end on Tuesday, July 9th. Smith Douglas Homes had issued 7,692,308 shares in its initial public offering on January 11th. The total size of the offering was $161,538,468 based on an initial share price of $21.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price target on shares of Smith Douglas Homes in a research report on Thursday, March 21st. Wells Fargo & Company raised their target price on Smith Douglas Homes from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target (down previously from $21.00) on shares of Smith Douglas Homes in a report on Tuesday, May 14th. Five investment 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, the stock has an average rating of “Hold” and an average price target of $27.10.

Smith Douglas Homes Price Performance

SDHC opened at $22.91 on Tuesday. Smith Douglas Homes has a twelve month low of $21.98 and a twelve month high of $32.82. The stock’s 50-day moving average is $26.34.

Smith Douglas Homes (NYSE:SDHC) last announced its earnings results on Tuesday, May 14th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $189.21 million for the quarter, compared to analyst estimates of $187.43 million. On average, sell-side analysts expect that Smith Douglas Homes will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently modified their holdings of the business. Hood River Capital Management LLC purchased a new stake in Smith Douglas Homes in the 1st quarter valued at $14,321,000. Vanguard Group Inc. acquired a new position in shares of Smith Douglas Homes during the 1st quarter valued at about $13,451,000. Long Pond Capital LP purchased a new stake in shares of Smith Douglas Homes in the first quarter valued at about $12,388,000. Zimmer Partners LP acquired a new stake in Smith Douglas Homes during the first quarter worth about $9,652,000. Finally, Lisanti Capital Growth LLC purchased a new position in Smith Douglas Homes during the first quarter worth about $3,973,000.

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.