JPMorgan Chase & Co. Issues Pessimistic Forecast for Smith Douglas Homes (NYSE:SDHC) Stock Price

Smith Douglas Homes (NYSE:SDHC) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $19.00 to $12.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 9.71% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Zacks Research lowered Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company cut their target price on shares of Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday. BTIG Research started coverage on shares of Smith Douglas Homes in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Smith Douglas Homes presently has a consensus rating of “Reduce” and an average price target of $14.80.

Smith Douglas Homes Trading Up 5.3%

Shares of Smith Douglas Homes stock traded up $0.67 during midday trading on Monday, reaching $13.29. The company had a trading volume of 181,390 shares, compared to its average volume of 95,958. The stock has a fifty day simple moving average of $17.51 and a 200 day simple moving average of $17.99. Smith Douglas Homes has a 1-year low of $11.24 and a 1-year high of $23.50. The company has a market capitalization of $683.77 million, a price-to-earnings ratio of 11.17 and a beta of 1.04.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Wednesday, March 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.20). The firm had revenue of $260.43 million for the quarter, compared to analyst estimates of $251.09 million. Smith Douglas Homes had a negative return on equity of 1.03% and a net margin of 1.10%. Sell-side analysts expect that Smith Douglas Homes will post 1.73 earnings per share for the current year.

Hedge Funds Weigh In On Smith Douglas Homes

Several hedge funds have recently added to or reduced their stakes in SDHC. State Street Corp boosted its holdings in Smith Douglas Homes by 2.7% during the fourth quarter. State Street Corp now owns 42,312 shares of the company’s stock worth $710,000 after buying an additional 1,100 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Smith Douglas Homes by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 104,422 shares of the company’s stock valued at $1,752,000 after acquiring an additional 1,406 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Smith Douglas Homes by 5.8% in the 2nd quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock valued at $564,000 after acquiring an additional 1,583 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Smith Douglas Homes in the 2nd quarter valued at approximately $34,000. Finally, Beck Mack & Oliver LLC boosted its stake in Smith Douglas Homes by 0.4% during the 4th quarter. Beck Mack & Oliver LLC now owns 816,447 shares of the company’s stock worth $13,692,000 after acquiring an additional 3,605 shares during the last quarter.

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.