Smith Douglas Homes (NYSE:SDHC) Hits New 52-Week Low on Analyst Downgrade

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price reached a new 52-week low on Thursday after Wells Fargo & Company lowered their price target on the stock from $24.00 to $21.00. Wells Fargo & Company currently has an equal weight rating on the stock. Smith Douglas Homes traded as low as $19.01 and last traded at $19.47, with a volume of 38064 shares changing hands. The stock had previously closed at $20.70.

SDHC has been the topic of a number of other research reports. Bank of America lowered 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. JPMorgan Chase & Co. lowered their price objective on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, Smith Douglas Homes currently has a consensus rating of “Hold” and a consensus target price of $24.80.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in shares of Smith Douglas Homes by 68.6% in the 3rd quarter. US Bancorp DE now owns 9,896 shares of the company’s stock valued at $374,000 after buying an additional 4,027 shares during the last quarter. Atria Investments Inc bought a new stake in Smith Douglas Homes during the third quarter worth $204,000. Victory Capital Management Inc. bought a new stake in Smith Douglas Homes during the third quarter worth $349,000. Daiwa Securities Group Inc. lifted its stake in Smith Douglas Homes by 31.2% in the third quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock valued at $1,114,000 after acquiring an additional 7,015 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Smith Douglas Homes by 287.0% in the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after acquiring an additional 2,738 shares during the period.

Smith Douglas Homes Stock Performance

The firm’s 50 day moving average price is $23.23 and its two-hundred day moving average price is $30.18.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, hitting 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 business had revenue of $287.49 million during the quarter, compared to analysts’ expectations of $265.85 million. Research analysts predict that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

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.