Smith Douglas Homes (NYSE:SDHC) Sets New 12-Month Low – Here’s Why
by Tristan Rich · The Markets DailySmith Douglas Homes Corp. (NYSE:SDHC – Get Free Report)’s stock price reached a new 52-week low on Friday . The stock traded as low as $11.13 and last traded at $11.14, with a volume of 29847 shares changing hands. The stock had previously closed at $11.58.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Thursday, January 22nd. BTIG Research assumed coverage on shares of Smith Douglas Homes in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday. Zacks Research lowered shares of Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company lowered their price target on shares of Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. One equities research 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. According to data from MarketBeat, Smith Douglas Homes currently has a consensus rating of “Reduce” and an average price target of $14.80.
View Our Latest Stock Report on SDHC
Smith Douglas Homes Stock Performance
The firm has a market capitalization of $595.84 million, a price-to-earnings ratio of 9.73 and a beta of 1.04. The company has a fifty day moving average price of $17.13 and a 200-day moving average price of $17.83.
Smith Douglas Homes (NYSE:SDHC – Get Free Report) last released its quarterly 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). The business had revenue of $260.43 million for the quarter, compared to the consensus estimate of $251.09 million. Smith Douglas Homes had a net margin of 1.10% and a negative return on equity of 1.03%. As a group, sell-side analysts predict that Smith Douglas Homes Corp. will post 1.73 EPS for the current fiscal year.
Insider Activity
In related news, Director George Ervin Perdue III purchased 20,300 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $12.27 per share, for a total transaction of $249,081.00. Following the purchase, the director owned 60,684 shares in the company, valued at $744,592.68. The trade was a 50.27% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 22,000 shares of company stock worth $268,607. Corporate insiders own 82.71% of the company’s stock.
Institutional Investors Weigh In On Smith Douglas Homes
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Conifer Management L.L.C. grew its holdings in Smith Douglas Homes by 68.3% during the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock valued at $24,037,000 after purchasing an additional 581,794 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Smith Douglas Homes by 38.0% in the third quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock valued at $5,857,000 after purchasing an additional 91,292 shares during the period. Wasatch Advisors LP lifted its stake in shares of Smith Douglas Homes by 6.2% in the fourth quarter. Wasatch Advisors LP now owns 1,249,857 shares of the company’s stock worth $20,960,000 after buying an additional 72,525 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Smith Douglas Homes during the 2nd quarter worth $644,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Smith Douglas Homes by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock worth $19,738,000 after buying an additional 24,996 shares during the period.
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.