Smith Douglas Homes (NYSE:SDHC) Trading Up 3.7% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price was up 3.7% during trading on Thursday . The stock traded as high as $10.70 and last traded at $10.70. Approximately 624 shares traded hands during trading, a decline of 99% from the average daily volume of 91,756 shares. The stock had previously closed at $10.32.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SDHC. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Friday, July 17th. Wall Street Zen upgraded Smith Douglas Homes from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Smith Douglas Homes currently has a consensus rating of “Reduce” and a consensus price target of $13.90.

Smith Douglas Homes Stock Up 0.8%

The business has a fifty day moving average of $12.92 and a 200 day moving average of $13.24. The firm has a market cap of $528.63 million, a P/E ratio of 14.44 and a beta of 0.83.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Smith Douglas Homes had a net margin of 0.64% and a negative return on equity of 0.19%. The business had revenue of $273.03 million during the quarter, compared to analyst estimates of $258.10 million. Research analysts expect that Smith Douglas Homes Corp. will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC raised its position in shares of Smith Douglas Homes by 37.1% in the second quarter. Squarepoint Ops LLC now owns 31,818 shares of the company’s stock valued at $494,000 after buying an additional 8,606 shares in the last quarter. Conifer Management L.L.C. acquired a new stake in Smith Douglas Homes during the second quarter worth approximately $22,274,259. Ruane Cunniff & Goldfarb L.P. grew its position in Smith Douglas Homes by 18.7% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company’s stock worth $185,000 after buying an additional 2,281 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Smith Douglas Homes during the 1st quarter worth $324,000. Finally, Hsbc Holdings PLC bought a new position in Smith Douglas Homes during the 1st quarter worth $168,000.

Smith Douglas Homes Company Profile

Smith Douglas Homes (NYSE: SDHC) is a residential homebuilder that designs, constructs and sells primarily single-family homes. The company focuses on offering attainable, entry-level housing, with floor plans and community features intended to meet the needs of first-time and value-oriented homebuyers.

The company develops homes in planned communities and offers a range of single-family designs, typically with options that allow buyers to customize selected features and finishes. Its activities generally include land acquisition and development, home construction, marketing, sales and customer service.

Founded in 2008 and headquartered in Atlanta, Georgia, Smith Douglas Homes serves housing markets in the southeastern and southern United States, including communities in Georgia, Alabama, Tennessee, North Carolina and Texas.