Smith Douglas Homes (NYSE:SDHC) Trading Down 5.6% – Here’s Why
by Sarita Garza · The Markets DailySmith Douglas Homes Corp. (NYSE:SDHC – Get Free Report)’s stock price fell 5.6% on Friday . The stock traded as low as $19.27 and last traded at $19.26. 20,149 shares changed hands during trading, a decline of 68% from the average session volume of 62,205 shares. The stock had previously closed at $20.41.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Royal Bank Of Canada decreased their price target on Smith Douglas Homes from $16.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Zacks Research upgraded Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday. BTIG Research assumed coverage on Smith Douglas Homes in a research report on Monday, December 1st. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target on shares of Smith Douglas Homes in a report on Friday, November 21st. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $16.60.
Check Out Our Latest Analysis on SDHC
Smith Douglas Homes Trading Down 7.8%
The company has a 50-day moving average price of $19.16 and a two-hundred day moving average price of $18.86. The stock has a market cap of $968.34 million, a P/E ratio of 15.06, a P/E/G ratio of 17.09 and a beta of 0.95.
Smith Douglas Homes (NYSE:SDHC – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.38). Smith Douglas Homes had a net margin of 1.13% and a return on equity of 0.12%. The firm had revenue of $262.04 million for the quarter, compared to the consensus estimate of $251.41 million. As a group, equities analysts forecast that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC lifted its stake in shares of Smith Douglas Homes by 38.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after acquiring an additional 91,292 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Smith Douglas Homes by 26.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 33,251 shares of the company’s stock worth $587,000 after purchasing an additional 7,025 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Smith Douglas Homes during the third quarter worth $346,000. GSA Capital Partners LLP purchased a new stake in shares of Smith Douglas Homes during the third quarter valued at $188,000. Finally, Vanguard Group Inc. grew its holdings in shares of Smith Douglas Homes by 0.9% in the third quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock worth $7,965,000 after purchasing an additional 3,884 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.