Smith Douglas Homes Corp. (NYSE:SDHC) Receives Average Rating of “Hold” from Brokerages

Smith Douglas Homes Corp. (NYSE:SDHC) has earned a consensus rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.50.

A number of research analysts recently issued reports on the company. Bank of America boosted their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Wells Fargo & Company boosted their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, August 15th. Finally, Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, August 14th.

Institutional Trading of Smith Douglas Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in SDHC. Hood River Capital Management LLC acquired a new position in Smith Douglas Homes in the first quarter worth approximately $14,321,000. Vanguard Group Inc. bought a new stake in shares of Smith Douglas Homes during the 1st quarter worth $13,451,000. Long Pond Capital LP acquired a new position in shares of Smith Douglas Homes in the 1st quarter worth $12,388,000. Zimmer Partners LP acquired a new stake in shares of Smith Douglas Homes during the first quarter worth $9,652,000. Finally, Thornburg Investment Management Inc. purchased a new stake in shares of Smith Douglas Homes during the second quarter valued at $4,975,000.

Smith Douglas Homes Price Performance

Shares of NYSE:SDHC opened at $36.61 on Friday. The company’s fifty day moving average is $36.00 and its two-hundred day moving average is $30.04. 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 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 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% compared to the same quarter last year. Equities analysts predict that Smith Douglas Homes will post 1.66 earnings per share for the current fiscal year.

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.