Smith Douglas Homes (NYSE:SDHC) PT Raised to $40.00

Smith Douglas Homes (NYSE:SDHC) had its price objective increased by research analysts at Bank of America from $36.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 3.31% from the company’s current price.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Wells Fargo & Company increased their price objective on shares of Smith Douglas Homes from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, Wedbush restated a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Smith Douglas Homes has a consensus rating of “Hold” and a consensus price target of $30.50.

Smith Douglas Homes Trading Up 2.5 %

Shares of NYSE SDHC traded up $0.96 during trading on Thursday, reaching $38.72. The company had a trading volume of 30,074 shares, compared to its average volume of 150,893. The business’s 50 day moving average price is $32.90 and its 200-day moving average price is $29.15. Smith Douglas Homes has a 52 week low of $20.55 and a 52 week high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $220.90 million for the quarter, compared to analyst estimates of $208.02 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, equities analysts expect that Smith Douglas Homes will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SYSTM Wealth Solutions LLC purchased a new stake in Smith Douglas Homes in the first quarter worth approximately $76,000. RiverPark Advisors LLC purchased a new position in shares of Smith Douglas Homes in the 2nd quarter worth $120,000. Sandia Investment Management LP purchased a new position in shares of Smith Douglas Homes during the 1st quarter worth about $178,000. Azzad Asset Management Inc. ADV purchased a new position in shares of Smith Douglas Homes during the 1st quarter worth about $331,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Smith Douglas Homes during the 1st quarter valued at about $565,000.

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.