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

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SDHC. Bank of America lowered shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $33.00 to $22.00 in a research report on Monday, January 27th. Wells Fargo & Company decreased their target price on Smith Douglas Homes from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. dropped their price target on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.80.

Smith Douglas Homes Stock Down 0.7 %

The company has a market cap of $1.03 billion, a PE ratio of 11.46, a P/E/G ratio of 6.87 and a beta of 1.44. The stock has a 50-day simple moving average of $22.60 and a 200 day simple moving average of $29.13.

Smith Douglas Homes (NYSE:SDHC) last announced its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. The company had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. As a group, research analysts anticipate that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of 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 worth about $27,000. Quantbot Technologies LP boosted its position in shares of Smith Douglas Homes by 287.0% during the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after acquiring an additional 2,738 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Smith Douglas Homes in the 3rd quarter valued at about $246,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Smith Douglas Homes by 31.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock worth $1,114,000 after acquiring an additional 7,015 shares in the last quarter.

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.