Smith Douglas Homes (NYSE:SDHC) Stock Price Up 9.3% – Here’s Why

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) shot up 9.3% during mid-day trading on Friday . The stock traded as high as $19.06 and last traded at $19.1150. 61,933 shares traded hands during trading, a decline of 14% from the average session volume of 71,815 shares. The stock had previously closed at $17.49.

Analysts Set New Price Targets

Several research firms have weighed in on SDHC. BTIG Research initiated coverage on Smith Douglas Homes in a report on Monday, December 1st. They issued a “neutral” rating on the stock. Bank of America lowered their price objective on shares of Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating on the stock in a research note on Friday, October 10th. Wells Fargo & Company cut their target price on shares of Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. UBS Group reaffirmed a “positive” rating on shares of Smith Douglas Homes in a report on Monday, December 1st. Finally, Zacks Research cut shares of Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $16.60.

Smith Douglas Homes Trading Up 9.8%

The company has a market capitalization of $988.43 million, a price-to-earnings ratio of 15.37, a PEG ratio of 14.95 and a beta of 0.95. The company’s 50 day simple moving average is $18.56 and its 200-day simple moving average is $18.77.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.38). Smith Douglas Homes had a net margin of 1.13% and a return on equity of 0.12%. The firm had revenue of $262.04 million during the quarter, compared to analyst estimates of $251.41 million. Sell-side analysts anticipate that Smith Douglas Homes Corp. will post 1.73 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC lifted its position in Smith Douglas Homes by 38.0% during the third quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after buying an additional 91,292 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Smith Douglas Homes by 4.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock worth $24,845,000 after acquiring an additional 53,358 shares during the period. Covey Capital Advisors LLC acquired a new stake in shares of Smith Douglas Homes in the second quarter worth approximately $705,000. Marshall Wace LLP purchased a new stake in Smith Douglas Homes in the second quarter valued at approximately $644,000. Finally, Victory Capital Management Inc. acquired a new position in Smith Douglas Homes during the third quarter worth approximately $346,000.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.