Smith Douglas Homes (NYSE:SDHC) Sees Strong Trading Volume – Should You Buy?

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) saw an uptick in trading volume on Friday . 122,479 shares were traded during trading, an increase of 118% from the previous session’s volume of 56,103 shares.The stock last traded at $19.0750 and had previously closed at $17.96.

Analysts Set New Price Targets

Several research firms have recently weighed in on SDHC. Wall Street Zen downgraded shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a research report on Sunday, November 9th. BTIG Research started coverage on Smith Douglas Homes in a research note on Monday, December 1st. They issued a “neutral” rating for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Thursday, January 22nd. UBS Group reaffirmed a “positive” rating on shares of Smith Douglas Homes in a report on Monday, December 1st. Finally, Zacks Research upgraded Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $16.60.

Smith Douglas Homes Price Performance

The stock’s fifty day simple moving average is $19.05 and its 200-day simple moving average is $18.61. The stock has a market cap of $952.55 million, a P/E ratio of 14.81, a PEG ratio of 15.28 and a beta of 0.94.

Institutional Investors Weigh In On Smith Douglas Homes

Several large investors have recently added to or reduced their stakes in the stock. Covey Capital Advisors LLC acquired a new position in Smith Douglas Homes during the 2nd quarter valued at about $705,000. First Eagle Investment Management LLC increased its stake in shares of Smith Douglas Homes by 1.7% in the second quarter. First Eagle Investment Management LLC now owns 240,382 shares of the company’s stock valued at $4,668,000 after purchasing an additional 4,000 shares during the period. Corton Capital Inc. raised its holdings in shares of Smith Douglas Homes by 41.0% during the second quarter. Corton Capital Inc. now owns 20,752 shares of the company’s stock valued at $403,000 after buying an additional 6,036 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Smith Douglas Homes during the fourth quarter worth approximately $386,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Smith Douglas Homes by 13.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 37,859 shares of the company’s stock worth $635,000 after buying an additional 4,608 shares during the period.

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.