Smith Douglas Homes (NYSE:SDHC) Shares Down 5.7% – What’s Next?

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price traded down 5.7% during mid-day trading on Monday . The company traded as low as $35.25 and last traded at $35.36. 15,494 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 143,204 shares. The stock had previously closed at $37.50.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SDHC. Bank of America upped their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Wedbush reissued a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, August 14th. Wells Fargo & Company increased their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.50.

Smith Douglas Homes Price Performance

The business’s fifty day simple moving average is $36.27 and its two-hundred day simple moving average is $30.27.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $220.90 million during the quarter, compared to analysts’ expectations of $208.02 million. Smith Douglas Homes’s revenue was up 21.7% on a year-over-year basis. As a group, equities research analysts expect that Smith Douglas Homes Corp. will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC acquired a new stake in Smith Douglas Homes in the third quarter worth about $34,000. RiverPark Advisors LLC bought a new stake 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 in the first quarter valued at approximately $178,000. Azzad Asset Management Inc. ADV bought a new position in Smith Douglas Homes in the first quarter worth $331,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Smith Douglas Homes in 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.