Smith Douglas Homes (NYSE:SDHC) Stock Price Down 6.2%

Smith Douglas Homes Corp. (NYSE:SDHC) traded down 6.2% during trading on Monday . The stock traded as low as $32.74 and last traded at $35.16. 87,769 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 150,675 shares. The stock had previously closed at $37.47.

Analyst Upgrades and Downgrades

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

Smith Douglas Homes Stock Down 4.8 %

The business’s 50 day simple moving average is $33.48 and its 200-day simple moving average is $29.24.

Smith Douglas Homes (NYSE:SDHC) last issued its earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $220.90 million for the quarter, compared to the consensus estimate of $208.02 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts predict that Smith Douglas Homes Corp. will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Large investors have recently modified their holdings of the business. SYSTM Wealth Solutions LLC acquired a new position in shares of Smith Douglas Homes in the 1st quarter valued at approximately $76,000. RiverPark Advisors LLC acquired a new position in shares of Smith Douglas Homes in the second quarter valued at approximately $120,000. Sandia Investment Management LP bought a new stake in shares of Smith Douglas Homes during the first quarter worth $178,000. Azzad Asset Management Inc. ADV acquired a new stake in shares of 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 in the 1st quarter valued at $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.