Smith Douglas Homes (NYSE:SDHC) Lowered to “Strong Sell” Rating by Zacks Research

Smith Douglas Homes (NYSE:SDHC) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on SDHC. Wall Street Zen lowered Smith Douglas Homes from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Thursday, January 22nd. BTIG Research began coverage on shares of Smith Douglas Homes in a report on Monday, December 1st. They set a “neutral” rating on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target on shares of Smith Douglas Homes in a research note on Friday, November 21st. Finally, Wells Fargo & Company reduced their price objective on Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $16.60.

Smith Douglas Homes Stock Down 5.0%

Shares of SDHC stock opened at $17.00 on Wednesday. The firm has a market cap of $874.65 million, a P/E ratio of 13.60 and a beta of 0.94. The business has a 50-day moving average price of $18.81 and a two-hundred day moving average price of $18.58. Smith Douglas Homes has a 12-month low of $15.00 and a 12-month high of $24.75.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Smith Douglas Homes during the second quarter worth about $34,000. Tower Research Capital LLC TRC bought a new position in Smith Douglas Homes during the 2nd quarter valued at approximately $90,000. Price T Rowe Associates Inc. MD purchased a new stake in Smith Douglas Homes in the 4th quarter worth approximately $182,000. GSA Capital Partners LLP purchased a new stake in Smith Douglas Homes in the 3rd quarter worth approximately $188,000. Finally, AlphaQuest LLC bought a new stake in shares of Smith Douglas Homes in the 3rd quarter worth approximately $195,000.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.