Smith Douglas Homes (NYSE:SDHC) Research Coverage Started at Zelman & Associates
by Mitch Edgeman · The Markets DailyZelman & Associates started coverage on shares of Smith Douglas Homes (NYSE:SDHC – Free Report) in a research report released on Monday,Benzinga reports. The firm issued a neutral rating and a $13.50 price target on the stock.
Other equities research analysts also recently issued reports about the company. Zacks Research downgraded Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Thursday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Wells Fargo & Company reduced their price target on shares of Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Finally, Citizens Jmp initiated coverage on shares of Smith Douglas Homes in a report on Tuesday, March 24th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Smith Douglas Homes presently has a consensus rating of “Reduce” and an average target price of $14.58.
Read Our Latest Analysis on SDHC
Smith Douglas Homes Trading Up 6.2%
Shares of SDHC opened at $14.28 on Monday. The business’s fifty day simple moving average is $15.08 and its two-hundred day simple moving average is $17.19. Smith Douglas Homes has a 12 month low of $11.13 and a 12 month high of $23.50. The company has a market cap of $735.28 million, a price-to-earnings ratio of 12.00 and a beta of 1.29.
Smith Douglas Homes (NYSE:SDHC – Get Free Report) last posted its quarterly earnings results on Wednesday, March 11th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.20). The business had revenue of $260.43 million during the quarter, compared to analysts’ expectations of $251.09 million. Smith Douglas Homes had a negative return on equity of 1.03% and a net margin of 1.10%. As a group, research analysts forecast that Smith Douglas Homes will post 1.73 EPS for the current year.
Insider Buying and Selling
In other news, Director George Ervin Perdue III bought 20,300 shares of the stock in a transaction on Friday, March 13th. The shares were bought at an average price of $12.27 per share, with a total value of $249,081.00. Following the completion of the acquisition, the director owned 60,684 shares in the company, valued at $744,592.68. The trade was a 50.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 22,000 shares of company stock worth $268,607 in the last three months. 82.71% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Smith Douglas Homes
Several institutional investors have recently made changes to their positions in the business. Conifer Management L.L.C. boosted its holdings in shares of Smith Douglas Homes by 68.3% in the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock worth $24,037,000 after buying an additional 581,794 shares during the last quarter. Wasatch Advisors LP increased its holdings in Smith Douglas Homes by 4.4% during the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock valued at $24,845,000 after buying an additional 53,358 shares during the last quarter. Wellington Management Group LLP increased its holdings in Smith Douglas Homes by 2.2% during the fourth quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock valued at $19,738,000 after buying an additional 24,996 shares during the last quarter. Beck Mack & Oliver LLC raised its position in Smith Douglas Homes by 0.4% in the fourth 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 period. Finally, Vanguard Group Inc. raised its position in 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 acquiring an additional 3,884 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.