Wells Fargo & Company Cuts Smith Douglas Homes (NYSE:SDHC) Price Target to $18.00

Smith Douglas Homes (NYSE:SDHC) had its price target cut by Wells Fargo & Company from $20.00 to $18.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Bank of America lowered their price target on Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, October 10th. Wall Street Zen upgraded Smith Douglas Homes from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research raised Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $16.90.

Smith Douglas Homes Stock Up 1.9%

Shares of Smith Douglas Homes stock traded up $0.34 during trading on Friday, reaching $17.67. The company’s stock had a trading volume of 20,177 shares, compared to its average volume of 80,955. Smith Douglas Homes has a 12-month low of $15.00 and a 12-month high of $37.90. The company has a market capitalization of $908.86 million, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 11.64 and a beta of 0.96. The business has a 50 day moving average price of $17.77 and a 200-day moving average price of $18.84.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.38). Smith Douglas Homes had a return on equity of 0.12% and a net margin of 1.13%.The company had revenue of $262.04 million for the quarter, compared to analysts’ expectations of $251.41 million. Research analysts predict that Smith Douglas Homes will post 1.73 EPS for the current fiscal year.

Institutional Trading of Smith Douglas Homes

Institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its stake in shares of Smith Douglas Homes by 4.4% in the 2nd 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 in the last quarter. Wellington Management Group LLP boosted its position in Smith Douglas Homes by 32.7% during the first quarter. Wellington Management Group LLP now owns 1,211,274 shares of the company’s stock worth $23,644,000 after purchasing an additional 298,227 shares during the period. Beck Mack & Oliver LLC lifted its stake in shares of Smith Douglas Homes by 20.2% in the first quarter. Beck Mack & Oliver LLC now owns 840,975 shares of the company’s stock worth $16,416,000 after buying an additional 141,545 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Smith Douglas Homes by 11.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 486,509 shares of the company’s stock valued at $9,497,000 after buying an additional 50,713 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Smith Douglas Homes by 0.9% in the third quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock valued at $7,965,000 after purchasing an additional 3,884 shares during the last quarter.

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.