Wedbush Reiterates Neutral Rating for Smith Douglas Homes (NYSE:SDHC)

Smith Douglas Homes (NYSE:SDHC)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $20.00 price target on the stock. Wedbush’s target price would indicate a potential downside of 39.60% from the company’s current price.

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

Smith Douglas Homes Stock Performance

Shares of NYSE:SDHC traded down $2.56 during trading on Tuesday, reaching $33.11. The stock had a trading volume of 65,378 shares, compared to its average volume of 135,308. Smith Douglas Homes has a 52 week low of $20.55 and a 52 week high of $39.50. The business’s 50-day moving average price is $35.78 and its 200 day moving average price is $30.95.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $220.90 million during the quarter, compared to the consensus estimate of $208.02 million. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Smith Douglas Homes will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Several large investors have recently made changes to their positions in SDHC. Sei Investments Co. bought a new stake in shares of Smith Douglas Homes during the 1st quarter valued at about $1,015,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Smith Douglas Homes during the first quarter worth about $565,000. Federated Hermes Inc. grew its position in shares of Smith Douglas Homes by 5.5% in the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock worth $12,328,000 after buying an additional 27,300 shares during the last quarter. Vanguard Group Inc. bought a new stake in Smith Douglas Homes in the first quarter valued at $13,451,000. Finally, Renaissance Technologies LLC increased its position in shares of Smith Douglas Homes by 260.2% during the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock valued at $783,000 after buying an additional 24,200 shares during the period.

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.