Smith Douglas Homes (NYSE:SDHC) Stock Price Up 3.9% – Still a Buy?

Smith Douglas Homes Corp. (NYSE:SDHC) traded up 3.9% during mid-day trading on Tuesday. The stock traded as high as $10.13 and last traded at $10.13. 1,191 shares were traded during mid-day trading, a decline of 99% from the average session volume of 88,318 shares. The stock had previously closed at $9.75.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.62.

Smith Douglas Homes Price Performance

The business’s fifty day simple moving average is $11.44 and its 200 day simple moving average is $12.98.

Smith Douglas Homes (NYSE:SDHC) last announced its earnings results on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $273.03 million for the quarter, compared to analysts’ expectations of $258.10 million. Smith Douglas Homes had a negative return on equity of 0.19% and a net margin of 0.64%. Equities analysts expect that Smith Douglas Homes Corp. will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently bought and sold shares of SDHC. Squarepoint Ops LLC boosted its stake in shares of Smith Douglas Homes by 37.1% during the 2nd quarter. Squarepoint Ops LLC now owns 31,818 shares of the company’s stock valued at $494,000 after buying an additional 8,606 shares during the last quarter. Conifer Management L.L.C. acquired a new stake in shares of Smith Douglas Homes during the second quarter worth approximately $22,274,259. Ruane Cunniff & Goldfarb L.P. increased its stake in shares of Smith Douglas Homes by 18.7% in the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company’s stock worth $185,000 after buying an additional 2,281 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Smith Douglas Homes in the first quarter worth $324,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Smith Douglas Homes in the first quarter worth $168,000.

Smith Douglas Homes Company Profile

Smith Douglas Homes Corp. is a residential homebuilder that designs, constructs and sells single-family homes in selected markets across the southeastern and southern United States. The company focuses primarily on building attainable homes for first-time and move-up buyers.

Its homes are offered in a range of floor plans and configurations, with options intended to address varying household sizes, lifestyles and budgets. In addition to constructing homes, Smith Douglas Homes typically acquires and develops residential lots, manages the homebuilding process and provides customer service to homebuyers.

Founded in 2008, the company has expanded its operations across several markets, including communities in Georgia, Alabama, Tennessee, North Carolina and Texas.