Smith Douglas Homes (NYSE:SDHC) Reaches New 52-Week Low – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC) shares reached a new 52-week low on Thursday . The company traded as low as $10.72 and last traded at $11.43, with a volume of 87997 shares changing hands. The stock had previously closed at $10.84.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citizens Jmp assumed coverage on Smith Douglas Homes in a research note on Tuesday, March 24th. They issued a “market perform” rating on the stock. Zacks Research upgraded Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Zelman & Associates began coverage on Smith Douglas Homes in a research report on Monday, April 6th. They set a “neutral” rating and a $13.50 price objective on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company lowered their price objective on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $13.90.

Smith Douglas Homes Stock Up 5.4%

The firm has a 50 day moving average of $13.02 and a two-hundred day moving average of $16.43. The firm has a market capitalization of $580.42 million, a price-to-earnings ratio of 12.03 and a beta of 1.31.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $206.44 million for the quarter, compared to analyst estimates of $200.70 million. Smith Douglas Homes had a negative return on equity of 0.78% and a net margin of 0.90%. Sell-side analysts forecast that Smith Douglas Homes Corp. will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Smith Douglas Homes news, Director George Ervin Perdue III bought 20,300 shares of the stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $12.27 per share, for a total transaction of $249,081.00. Following the completion of the acquisition, the director owned 60,684 shares in the company, valued at $744,592.68. This trade represents a 50.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased 22,000 shares of company stock valued at $268,607 in the last ninety days. Insiders own 82.71% of the company’s stock.

Institutional Investors Weigh In On Smith Douglas Homes

Several institutional investors have recently bought and sold shares of the stock. Conifer Management L.L.C. grew its holdings in Smith Douglas Homes by 68.3% during the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock worth $24,037,000 after buying an additional 581,794 shares in the last quarter. Wasatch Advisors LP boosted its position in Smith Douglas Homes by 4.4% in the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock worth $24,845,000 after purchasing an additional 53,358 shares during the last quarter. Wellington Management Group LLP boosted its position in Smith Douglas Homes by 2.2% in the fourth quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock worth $19,738,000 after purchasing an additional 24,996 shares during the last quarter. Beck Mack & Oliver LLC boosted its position in Smith Douglas Homes by 0.4% in the fourth quarter. Beck Mack & Oliver LLC now owns 816,447 shares of the company’s stock worth $13,692,000 after purchasing an additional 3,605 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Smith Douglas Homes by 0.9% in the third quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock worth $7,965,000 after purchasing an additional 3,884 shares during the last quarter.

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