Smith Douglas Homes Corp. (NYSE:SDHC) Receives Consensus Rating of “Hold” from Brokerages

Smith Douglas Homes Corp. (NYSE:SDHC) has been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $31.50.

Several research firms have recently weighed in on SDHC. Wells Fargo & Company increased their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Bank of America lifted their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Wednesday, August 14th.

Smith Douglas Homes Trading Up 6.3 %

Shares of Smith Douglas Homes stock opened at $36.33 on Wednesday. The business’s 50 day moving average price is $35.80 and its 200 day moving average price is $30.85. Smith Douglas Homes has a one year low of $20.55 and a one year high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $220.90 million for the quarter, compared to analyst estimates of $208.02 million. Smith Douglas Homes’s revenue for the quarter was up 21.7% on a year-over-year basis. Analysts forecast that Smith Douglas Homes will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Smith Douglas Homes

Several hedge funds have recently bought and sold shares of SDHC. nVerses Capital LLC purchased a new position in Smith Douglas Homes in the 3rd quarter valued at approximately $34,000. RiverPark Advisors LLC purchased a new position in Smith Douglas Homes in the second quarter valued at $120,000. Sandia Investment Management LP purchased a new position in Smith Douglas Homes in the first quarter valued at $178,000. Atria Investments Inc acquired a new position in Smith Douglas Homes during the 3rd quarter worth $204,000. Finally, Portside Wealth Group LLC purchased a new stake in Smith Douglas Homes during the 3rd quarter worth about $283,000.

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.