Analysts Set Smith Douglas Homes Corp. (NYSE:SDHC) Price Target at $31.50

Smith Douglas Homes Corp. (NYSE:SDHC) has received a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $31.50.

A number of brokerages have recently weighed in on SDHC. Wells Fargo & Company upped their target price on Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Bank of America raised their price objective 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, September 19th. Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price target on shares of Smith Douglas Homes in a research report on Thursday, August 15th.

Smith Douglas Homes Trading Up 6.3 %

Shares of NYSE SDHC opened at $36.33 on Wednesday. The firm’s 50-day moving average price is $35.80 and its 200-day moving average price is $30.82. Smith Douglas Homes has a 1-year low of $20.55 and a 1-year high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, topping 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 firm’s quarterly revenue was up 21.7% on a year-over-year basis. On average, analysts predict 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 institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new position in shares of Smith Douglas Homes in the 1st quarter worth approximately $14,321,000. Vanguard Group Inc. purchased a new position in Smith Douglas Homes in the first quarter worth $13,451,000. Long Pond Capital LP purchased a new stake in shares of Smith Douglas Homes during the 1st quarter valued at $12,388,000. Zimmer Partners LP bought a new stake in shares of Smith Douglas Homes during the 1st quarter worth $9,652,000. Finally, Thornburg Investment Management Inc. bought a new stake in shares of Smith Douglas Homes during the 2nd quarter worth $4,975,000.

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.