Smith Douglas Homes (NYSE:SDHC) Shares Up 8.6% – Here’s Why

Smith Douglas Homes Corp. (NYSE:SDHC) was up 8.6% during trading on Wednesday . The company traded as high as $14.43 and last traded at $14.38. 38,334 shares were traded during mid-day trading, a decline of 65% from the average session volume of 110,905 shares. The stock had previously closed at $13.24.

Analysts Set New Price Targets

Several analysts have commented on SDHC shares. Zacks Research upgraded shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Citizens Jmp assumed coverage on shares of Smith Douglas Homes in a report on Tuesday, March 24th. They issued a “market perform” rating on the stock. Zelman & Associates began coverage on Smith Douglas Homes in a report on Monday, April 6th. They set a “neutral” rating and a $13.50 target price on the stock. Wall Street Zen upgraded Smith Douglas Homes from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $13.90.

Smith Douglas Homes Trading Down 0.5%

The stock has a 50-day moving average price of $13.04 and a 200 day moving average price of $15.48. The stock has a market capitalization of $724.63 million, a price-to-earnings ratio of 15.02 and a beta of 1.13.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $200.70 million. Equities research analysts anticipate that Smith Douglas Homes Corp. will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in Smith Douglas Homes during the second quarter valued at $34,000. Tower Research Capital LLC TRC purchased a new position in Smith Douglas Homes in the 2nd quarter valued at about $90,000. GSA Capital Partners LLP acquired a new stake in Smith Douglas Homes in the 3rd quarter worth about $188,000. Price T Rowe Associates Inc. MD acquired a new stake in Smith Douglas Homes in the 4th quarter worth about $182,000. Finally, VARCOV Co. purchased a new stake in Smith Douglas Homes during the 4th quarter worth approximately $200,000.

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.