Smith Douglas Homes (NYSE:SDHC) Hits New 1-Year Low After Analyst Downgrade

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) hit a new 52-week low during trading 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. The stock had previously closed at $20.70.

A number of other equities research analysts have also recently issued reports on SDHC. Bank of America cut Smith Douglas Homes from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $33.00 to $22.00 in a report on Monday, January 27th. JPMorgan Chase & Co. decreased their price objective on 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 analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Smith Douglas Homes currently has an average rating of “Hold” and a consensus price target of $24.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Arcadia Investment Management Corp MI bought a new stake in shares of Smith Douglas Homes in the fourth quarter valued at approximately $27,000. Quantbot Technologies LP lifted 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 valued at $139,000 after acquiring an additional 2,738 shares during the period. Atria Investments Inc acquired a new stake in shares of Smith Douglas Homes during the 3rd quarter worth $204,000. Trexquant Investment LP bought a new position in shares of Smith Douglas Homes in the fourth quarter worth $218,000. Finally, Yorktown Management & Research Co Inc acquired a new position in Smith Douglas Homes in the fourth quarter valued at about $236,000.

Smith Douglas Homes Stock Performance

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

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

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.