Smith Douglas Homes (NYSE:SDHC) Sees Large Volume Increase – Here’s Why

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) saw an uptick in trading volume on Thursday . 195,397 shares changed hands during mid-day trading, an increase of 141% from the previous session’s volume of 81,147 shares.The stock last traded at $12.00 and had previously closed at $11.88.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SDHC. UBS Group reiterated a “positive” rating on shares of Smith Douglas Homes in a report on Monday, December 1st. BTIG Research initiated coverage on shares of 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 report on Thursday, January 22nd. Zacks Research lowered Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price objective on shares of Smith Douglas Homes in a report on Friday, November 21st. 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’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $15.80.

Smith Douglas Homes Stock Performance

The stock has a market cap of $594.76 million, a P/E ratio of 9.25 and a beta of 1.04. The firm has a 50-day moving average price of $17.70 and a 200-day moving average price of $18.12.

Smith Douglas Homes (NYSE:SDHC) last released its earnings results on Wednesday, March 11th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.20). Smith Douglas Homes had a return on equity of 0.12% and a net margin of 1.13%.The business had revenue of $260.43 million during the quarter, compared to analysts’ expectations of $251.09 million. On average, research analysts predict that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Hedge funds have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC boosted its stake in Smith Douglas Homes by 38.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after purchasing an additional 91,292 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Smith Douglas Homes by 26.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 33,251 shares of the company’s stock valued at $587,000 after purchasing an additional 7,025 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Smith Douglas Homes in the third quarter worth about $188,000. AlphaQuest LLC purchased a new position in Smith Douglas Homes in the third quarter worth about $195,000. Finally, Inspire Advisors LLC bought a new stake in shares of Smith Douglas Homes in the 3rd quarter worth $214,000.

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.