Smith Douglas Homes (NYSE:SDHC) Shares Up 4.3% – Time to Buy?

Smith Douglas Homes Corp. (NYSE:SDHC) traded up 4.3% during mid-day trading on Friday . The stock traded as high as $19.64 and last traded at $19.48. 44,293 shares changed hands during trading, a decline of 60% from the average session volume of 110,733 shares. The stock had previously closed at $18.67.

Analyst Ratings Changes

Several research analysts have weighed in on SDHC shares. JPMorgan Chase & Co. decreased their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. 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 report on Thursday, March 13th. Finally, Bank of America cut Smith Douglas Homes from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $33.00 to $22.00 in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.80.

Smith Douglas Homes Trading Up 5.2 %

The stock has a 50 day simple moving average of $21.76 and a 200-day simple moving average of $28.27. The firm has a market cap of $1.01 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 6.87 and a beta of 1.31.

Smith Douglas Homes (NYSE:SDHC) last released its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. The firm had revenue of $287.49 million during the quarter, compared to analysts’ expectations of $265.85 million. On average, equities research analysts expect that Smith Douglas Homes Corp. will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP lifted its stake in Smith Douglas Homes by 366.3% in the 4th quarter. Two Sigma Investments LP now owns 27,550 shares of the company’s stock worth $706,000 after purchasing an additional 21,642 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Smith Douglas Homes by 50.0% in the fourth quarter. Millennium Management LLC now owns 56,459 shares of the company’s stock worth $1,448,000 after purchasing an additional 18,810 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Smith Douglas Homes in the fourth quarter worth about $456,000. Corton Capital Inc. boosted its stake in Smith Douglas Homes by 61.8% during the fourth quarter. Corton Capital Inc. now owns 25,229 shares of the company’s stock valued at $647,000 after buying an additional 9,640 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Smith Douglas Homes by 69.9% in the 4th quarter. Jane Street Group LLC now owns 23,837 shares of the company’s stock worth $611,000 after acquiring an additional 9,805 shares during 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.