Smith Douglas Homes (NYSE:SDHC) Hits New 12-Month Low at $21.72

Smith Douglas Homes Corp. (NYSE:SDHC) shares hit a new 52-week low on Tuesday . The stock traded as low as $21.72 and last traded at $21.72, with a volume of 8893 shares. The stock had previously closed at $22.91.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Smith Douglas Homes from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, March 21st. Finally, Wedbush restated a “neutral” rating and issued a $20.00 price objective (down from $21.00) on shares of Smith Douglas Homes in a research note on Tuesday, May 14th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.10.

Smith Douglas Homes Price Performance

The firm’s 50-day moving average price is $26.12.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $189.21 million for the quarter, compared to the consensus estimate of $187.43 million. As a group, equities analysts expect that Smith Douglas Homes Corp. will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently modified their holdings of SDHC. Teachers Retirement System of The State of Kentucky bought a new position in shares of Smith Douglas Homes in the first quarter worth approximately $565,000. Rokos Capital Management LLP bought a new position in shares of Smith Douglas Homes in the first quarter worth approximately $1,786,000. Zimmer Partners LP bought a new position in shares of Smith Douglas Homes in the first quarter worth approximately $9,652,000. Sandia Investment Management LP bought a new position in shares of Smith Douglas Homes in the first quarter worth approximately $178,000. Finally, Hood River Capital Management LLC bought a new position in shares of Smith Douglas Homes in the first quarter worth approximately $14,321,000.

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.