Smith Douglas Homes (NYSE:SDHC) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Smith Douglas Homes (NYSE:SDHC) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

Several other equities research analysts also recently commented on SDHC. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a research report on Sunday, November 9th. Royal Bank Of Canada lowered their price objective on shares of Smith Douglas Homes from $16.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. BTIG Research began coverage on shares of Smith Douglas Homes in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price objective on shares of Smith Douglas Homes in a report on Friday, November 21st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Smith Douglas Homes has an average rating of “Reduce” and an average target price of $16.60.

Smith Douglas Homes Price Performance

Shares of SDHC traded up $0.15 during trading hours on Wednesday, hitting $17.21. The stock had a trading volume of 4,343 shares, compared to its average volume of 60,569. Smith Douglas Homes has a 1-year low of $15.00 and a 1-year high of $24.75. The firm has a market capitalization of $885.56 million, a P/E ratio of 13.78 and a beta of 0.94. The firm has a 50 day simple moving average of $18.81 and a 200-day simple moving average of $18.58.

Institutional Trading of Smith Douglas Homes

Several institutional investors have recently made changes to their positions in SDHC. Conifer Management L.L.C. increased its position in shares of Smith Douglas Homes by 68.3% during the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock valued at $24,037,000 after acquiring an additional 581,794 shares during the last quarter. First Eagle Investment Management LLC boosted its position in 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 purchasing an additional 91,292 shares during the last quarter. Wasatch Advisors LP grew its stake in Smith Douglas Homes by 6.2% in the 4th 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. Covey Capital Advisors LLC bought a new position in Smith Douglas Homes in the 2nd quarter valued at $705,000. Finally, Marshall Wace LLP purchased a new stake in shares of Smith Douglas Homes during the 2nd quarter valued at $644,000.

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.