Wells Fargo & Company Cuts Smith Douglas Homes (NYSE:SDHC) Price Target to $21.00

Smith Douglas Homes (NYSE:SDHC) had its target price trimmed by Wells Fargo & Company from $24.00 to $21.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts also recently commented on SDHC. JPMorgan Chase & Co. dropped their price objective on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Bank of America downgraded shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $22.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.80.

Smith Douglas Homes Trading Up 2.4 %

NYSE SDHC opened at $19.64 on Thursday. Smith Douglas Homes has a 1 year low of $19.00 and a 1 year high of $39.50. The company has a fifty day moving average price of $23.02 and a 200-day moving average price of $29.93.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $287.49 million for the quarter, compared to the consensus estimate of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. Equities research analysts forecast that Smith Douglas Homes will post 1.73 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP increased its position in shares of Smith Douglas Homes by 438.9% in the fourth quarter. Wasatch Advisors LP now owns 1,156,019 shares of the company’s stock worth $29,640,000 after purchasing an additional 941,511 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Smith Douglas Homes by 4.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company’s stock worth $20,847,000 after purchasing an additional 35,702 shares during the last quarter. Beck Mack & Oliver LLC increased its position in shares of Smith Douglas Homes by 58.1% in the fourth quarter. Beck Mack & Oliver LLC now owns 699,430 shares of the company’s stock worth $17,933,000 after purchasing an additional 256,950 shares during the last quarter. First Eagle Investment Management LLC grew its position in Smith Douglas Homes by 52.8% during the fourth quarter. First Eagle Investment Management LLC now owns 148,882 shares of the company’s stock valued at $3,817,000 after acquiring an additional 51,419 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Smith Douglas Homes by 31.9% during the fourth quarter. Renaissance Technologies LLC now owns 99,200 shares of the company’s stock valued at $2,543,000 after acquiring an additional 24,000 shares during the last quarter.

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.