Smith Douglas Homes (NYSE:SDHC) Issues Quarterly Earnings Results

Smith Douglas Homes (NYSE:SDHC) announced its earnings results on Wednesday. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03, Briefing.com reports. The company had revenue of $220.90 million during the quarter, compared to the consensus estimate of $208.02 million. The firm’s revenue was up 21.7% compared to the same quarter last year.

Smith Douglas Homes Stock Performance

Shares of NYSE:SDHC traded up $0.66 during mid-day trading on Thursday, reaching $35.68. The stock had a trading volume of 82,654 shares, compared to its average volume of 152,888. The firm has a 50 day simple moving average of $26.56 and a two-hundred day simple moving average of $27.70. Smith Douglas Homes has a twelve month low of $20.55 and a twelve month high of $37.74.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SDHC shares. Bank of America lifted their price objective on Smith Douglas Homes from $30.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price target on shares of Smith Douglas Homes in a research note on Thursday. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Smith Douglas Homes from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.70.

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.