Smith Douglas Homes (NYSE:SDHC) Stock Price Up 3.9% – Here’s Why

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price rose 3.9% during mid-day trading on Tuesday. The company traded as high as $10.13 and last traded at $10.13. Approximately 1,191 shares traded hands during trading, a decline of 99% from the average session volume of 88,318 shares. The stock had previously closed at $9.75.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.62.

Smith Douglas Homes Stock Performance

The stock’s 50-day moving average price is $11.66 and its 200-day moving average price is $13.01. The company has a market capitalization of $504.72 million, a price-to-earnings ratio of 13.79 and a beta of 0.90.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Conifer Management L.L.C. acquired a new stake in Smith Douglas Homes in the 2nd quarter valued at about $22,274,259. Squarepoint Ops LLC increased its holdings in Smith Douglas Homes by 37.1% during the 2nd quarter. Squarepoint Ops LLC now owns 31,818 shares of the company’s stock valued at $494,000 after acquiring an additional 8,606 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Smith Douglas Homes during the first quarter worth about $324,000. Ruane Cunniff & Goldfarb L.P. raised 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 acquiring an additional 2,281 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Smith Douglas Homes during the first quarter worth about $168,000.

Smith Douglas Homes Company Profile

Smith Douglas Homes Corp. is a residential homebuilder that designs, constructs and sells single-family homes in selected markets across the southeastern and southern United States. The company focuses primarily on building attainable homes for first-time and move-up buyers.

Its homes are offered in a range of floor plans and configurations, with options intended to address varying household sizes, lifestyles and budgets. In addition to constructing homes, Smith Douglas Homes typically acquires and develops residential lots, manages the homebuilding process and provides customer service to homebuyers.

Founded in 2008, the company has expanded its operations across several markets, including communities in Georgia, Alabama, Tennessee, North Carolina and Texas.