Brokerages Set Smith Douglas Homes Corp. (NYSE:SDHC) Target Price at $16.60

Smith Douglas Homes Corp. (NYSE:SDHC) has earned a consensus recommendation of “Reduce” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $16.60.

SDHC has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. BTIG Research assumed coverage on shares of Smith Douglas Homes in a research report on Monday, December 1st. They issued a “neutral” rating on the stock. Bank of America lowered their price target on shares of Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating for the company in a research note on Friday, October 10th. Zacks Research cut Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 price objective on shares of Smith Douglas Homes in a report on Friday, November 21st.

Smith Douglas Homes Trading Up 0.7%

SDHC opened at $17.51 on Tuesday. The stock has a market capitalization of $900.63 million, a P/E ratio of 14.00, a PEG ratio of 13.48 and a beta of 0.95. The stock has a 50-day moving average price of $18.53 and a 200-day moving average price of $18.77. Smith Douglas Homes has a 12-month low of $15.00 and a 12-month high of $26.12.

Smith Douglas Homes (NYSE:SDHC) last announced 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). The firm had revenue of $262.04 million for the quarter, compared to analysts’ expectations of $251.41 million. Smith Douglas Homes had a net margin of 1.13% and a return on equity of 0.12%. On average, equities research analysts predict that Smith Douglas Homes will post 1.73 EPS for the current year.

Institutional Trading of Smith Douglas Homes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP boosted its stake in shares of Smith Douglas Homes by 4.4% during the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock valued at $24,845,000 after purchasing an additional 53,358 shares during the period. Vanguard Group Inc. raised its holdings in Smith Douglas Homes by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock valued at $7,965,000 after buying an additional 3,884 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Smith Douglas Homes by 38.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock valued at $5,857,000 after buying an additional 91,292 shares during the period. Geode Capital Management LLC grew its holdings in Smith Douglas Homes by 8.8% in the 2nd quarter. Geode Capital Management LLC now owns 101,896 shares of the company’s stock worth $1,980,000 after acquiring an additional 8,201 shares during the last quarter. Finally, Covey Capital Advisors LLC bought a new stake in Smith Douglas Homes in the 2nd quarter worth $705,000.

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.