Smith Douglas Homes (NYSE:SDHC) Stock Price Up 3.2% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC) shot up 3.2% during trading on Thursday . The company traded as high as $20.78 and last traded at $20.75. 14,184 shares were traded during mid-day trading, a decline of 88% from the average session volume of 114,493 shares. The stock had previously closed at $20.10.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SDHC shares. Wells Fargo & Company decreased their price target on shares of Smith Douglas Homes from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. decreased their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, Bank of America cut shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $33.00 to $22.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, Smith Douglas Homes has a consensus rating of “Hold” and a consensus price target of $24.80.

Smith Douglas Homes Stock Down 1.8 %

The company’s fifty day moving average is $22.71 and its 200 day moving average is $29.40. The stock has a market cap of $1.04 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 6.87 and a beta of 1.44.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SDHC. Arcadia Investment Management Corp MI purchased a new position in Smith Douglas Homes in the fourth quarter valued at approximately $27,000. Quantbot Technologies LP raised its stake in shares of Smith Douglas Homes by 287.0% during the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after purchasing an additional 2,738 shares during the period. Atria Investments Inc purchased a new stake in shares of Smith Douglas Homes during the third quarter valued at approximately $204,000. Trexquant Investment LP purchased a new stake in shares of Smith Douglas Homes during the fourth quarter valued at approximately $218,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Smith Douglas Homes during the fourth quarter valued at approximately $236,000.

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.