Smith Douglas Homes (NYSE:SDHC) Stock Gets Price Target Reduction from Royal Bank Of Canada

Smith Douglas Homes (NYSE:SDHC) had its price objective cut by Royal Bank Of Canada from $15.00 to $10.00 in a report released on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.38.

Smith Douglas Homes Trading Up 0.1%

Smith Douglas Homes stock opened at $10.46 on Thursday. The company has a market cap of $531.68 million, a P/E ratio of 14.53 and a beta of 0.90. Smith Douglas Homes has a 1-year low of $9.71 and a 1-year high of $23.49. The company has a fifty day simple moving average of $11.30 and a 200 day simple moving average of $12.95.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The business had revenue of $273.03 million for the quarter, compared to the consensus estimate of $258.10 million. Smith Douglas Homes had a negative return on equity of 0.19% and a net margin of 0.64%. On average, equities research analysts forecast that Smith Douglas Homes will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently made changes to their positions in the company. Conifer Management L.L.C. acquired a new stake in Smith Douglas Homes in the second quarter valued at $22,274,259. Dimensional Fund Advisors LP acquired a new position in shares of Smith Douglas Homes during the 1st quarter worth about $324,000. Hsbc Holdings PLC acquired a new position in shares of Smith Douglas Homes during the 1st quarter worth about $168,000. Squarepoint Ops LLC raised its holdings in shares of Smith Douglas Homes by 37.1% in the 2nd quarter. Squarepoint Ops LLC now owns 31,818 shares of the company’s stock valued at $494,000 after purchasing an additional 8,606 shares during the period. Finally, Ruane Cunniff & Goldfarb L.P. raised its holdings in shares of Smith Douglas Homes by 18.7% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company’s stock valued at $185,000 after purchasing an additional 2,281 shares during the period.

About Smith Douglas Homes

Smith Douglas Homes Corp. is a residential homebuilder that designs, constructs and sells single-family homes in selected markets across the southeastern and southern United States. The company focuses primarily on building attainable homes for first-time and move-up buyers.

Its homes are offered in a range of floor plans and configurations, with options intended to address varying household sizes, lifestyles and budgets. In addition to constructing homes, Smith Douglas Homes typically acquires and develops residential lots, manages the homebuilding process and provides customer service to homebuyers.

Founded in 2008, the company has expanded its operations across several markets, including communities in Georgia, Alabama, Tennessee, North Carolina and Texas.