Smith Douglas Homes (NYSE:SDHC) Given New $16.00 Price Target at Royal Bank of Canada

Smith Douglas Homes (NYSE:SDHC) had its price objective lowered by Royal Bank of Canada from $21.00 to $16.00 in a report published on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other research firms have also recently issued reports on SDHC. Bank of America cut shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $33.00 to $22.00 in a research report on Monday, January 27th. Wedbush reaffirmed a “neutral” rating and set a $18.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company decreased their price target on shares of Smith Douglas Homes from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, Smith Douglas Homes currently has a consensus rating of “Hold” and an average price target of $22.20.

Smith Douglas Homes Stock Down 5.8%

Shares of Smith Douglas Homes stock opened at $17.09 on Tuesday. The company has a market capitalization of $878.89 million, a price-to-earnings ratio of 9.88, a PEG ratio of 6.87 and a beta of 1.28. The stock’s 50-day simple moving average is $19.28 and its 200-day simple moving average is $24.29. Smith Douglas Homes has a 52 week low of $17.02 and a 52 week high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last issued its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. The company had revenue of $287.49 million for the quarter, compared to the consensus estimate of $265.85 million. On average, equities analysts expect that Smith Douglas Homes will post 1.73 earnings per share for the current year.

Insiders Place Their Bets

In other Smith Douglas Homes news, Director Jeffrey T. Jackson acquired 6,000 shares of the stock in a transaction on Friday, May 16th. The stock was acquired at an average price of $18.49 per share, for a total transaction of $110,940.00. Following the completion of the transaction, the director now directly owns 25,682 shares of the company’s stock, valued at $474,860.18. This trade represents a 30.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 82.71% of the company’s stock.

Institutional Trading of Smith Douglas Homes

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Smith Douglas Homes by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company’s stock worth $2,310,000 after acquiring an additional 457 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Smith Douglas Homes by 8.4% in the 1st quarter. M&T Bank Corp now owns 11,001 shares of the company’s stock valued at $215,000 after purchasing an additional 848 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Smith Douglas Homes in the 4th quarter valued at approximately $27,000. PDT Partners LLC boosted its holdings in shares of Smith Douglas Homes by 10.7% in the 1st quarter. PDT Partners LLC now owns 13,988 shares of the company’s stock worth $273,000 after purchasing an additional 1,349 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of Smith Douglas Homes by 1.0% in the 1st quarter. New York State Common Retirement Fund now owns 185,119 shares of the company’s stock worth $3,614,000 after purchasing an additional 1,744 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.