Smith Douglas Homes (NYSE:SDHC) Sets New 1-Year High at $39.47

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $39.47 and last traded at $38.99, with a volume of 295782 shares trading hands. The stock had previously closed at $35.86.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price target on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Wells Fargo & Company raised their price target on Smith Douglas Homes from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a research note on Wednesday, August 14th. Finally, Bank of America raised their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Smith Douglas Homes presently has a consensus rating of “Hold” and an average price target of $30.50.

Smith Douglas Homes Price Performance

The stock’s 50-day moving average price is $32.90 and its 200-day moving average price is $29.15.

Smith Douglas Homes (NYSE:SDHC) last posted 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 business had revenue of $220.90 million during the quarter, compared to the consensus estimate of $208.02 million. Smith Douglas Homes’s quarterly revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts forecast that Smith Douglas Homes Corp. will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Institutional investors have recently made changes to their positions in the stock. SYSTM Wealth Solutions LLC bought a new position in Smith Douglas Homes in the 1st quarter valued at about $76,000. RiverPark Advisors LLC bought a new position in Smith Douglas Homes in the second quarter valued at approximately $120,000. Sandia Investment Management LP acquired a new position in Smith Douglas Homes during the first quarter valued at approximately $178,000. Azzad Asset Management Inc. ADV bought a new stake in Smith Douglas Homes during the first quarter worth $331,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Smith Douglas Homes during the first quarter worth $565,000.

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.