Smith Douglas Homes (NYSE:SDHC) Trading 6.2% Higher – Should You Buy?

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price traded up 6.2% during trading on Tuesday . The company traded as high as $14.09 and last traded at $14.09. 118,026 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 111,704 shares. The stock had previously closed at $13.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research upgraded Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. reduced their price objective on Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Citizens Jmp began coverage on Smith Douglas Homes in a research note on Tuesday, March 24th. They set a “market perform” rating on the stock. Finally, Wells Fargo & Company reduced their price objective on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $13.90.

Smith Douglas Homes Stock Up 8.8%

The company has a 50 day simple moving average of $13.09 and a two-hundred day simple moving average of $15.84. The company has a market capitalization of $733.26 million, a P/E ratio of 15.20 and a beta of 1.13.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Smith Douglas Homes had a negative return on equity of 0.78% and a net margin of 0.90%.The company had revenue of $206.44 million for the quarter, compared to analysts’ expectations of $200.70 million. As a group, research analysts expect that Smith Douglas Homes Corp. will post 0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently modified their holdings of the business. Conifer Management L.L.C. raised 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 period. First Eagle Investment Management LLC raised its holdings 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 worth $5,857,000 after buying an additional 91,292 shares during the period. Wasatch Advisors LP boosted its holdings 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 valued at $20,960,000 after purchasing an additional 72,525 shares during the period. Marshall Wace LLP purchased a new stake in shares of Smith Douglas Homes in the second quarter valued at approximately $644,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Smith Douglas Homes in the first quarter valued at approximately $324,000.

Smith Douglas Homes Company Profile

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.