Smith Douglas Homes Corp.’s (NYSE:SDHC) Lock-Up Period To End on July 9th

Smith Douglas Homes’ (NYSE:SDHC) lock-up period is set to expire on Tuesday, July 9th. Smith Douglas Homes had issued 7,692,308 shares in its IPO on January 11th. The total size of the offering was $161,538,468 based on an initial share price of $21.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SDHC. Wells Fargo & Company upped their price target on Smith Douglas Homes from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Wedbush reissued a “neutral” rating and set a $20.00 target price (down from $21.00) on shares of Smith Douglas Homes in a report on Tuesday, May 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price target on shares of Smith Douglas Homes in a research report on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.10.

Smith Douglas Homes Stock Down 2.0 %

Shares of SDHC opened at $22.91 on Tuesday. Smith Douglas Homes has a 12 month low of $21.98 and a 12 month high of $32.82. The stock’s fifty day moving average is $26.34.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings results on Tuesday, May 14th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $189.21 million for the quarter, compared to the consensus estimate of $187.43 million. On average, equities analysts forecast that Smith Douglas Homes will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of Smith Douglas Homes

Several large investors have recently added to or reduced their stakes in the business. SYSTM Wealth Solutions LLC acquired a new stake in shares of Smith Douglas Homes in the 1st quarter worth approximately $76,000. Sandia Investment Management LP acquired a new stake in Smith Douglas Homes in the first quarter worth approximately $178,000. Azzad Asset Management Inc. ADV bought a new position in Smith Douglas Homes during the 1st quarter valued at $331,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Smith Douglas Homes during the 1st quarter valued at $565,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Smith Douglas Homes in the 1st quarter worth $688,000.

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.