Smith Douglas Homes (NYSE:SDHC) Hits New 12-Month Low – Here’s Why

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.00 and last traded at $15.56, with a volume of 125182 shares. The stock had previously closed at $15.44.

Analyst Ratings Changes

A number of brokerages have issued reports on SDHC. Bank of America lowered their price target on Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating on the stock in a research report on Friday. Wall Street Zen downgraded Smith Douglas Homes from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Smith Douglas Homes has an average rating of “Reduce” and an average target price of $17.50.

Smith Douglas Homes Stock Up 0.8%

The firm has a market cap of $800.56 million, a PE ratio of 9.79, a P/E/G ratio of 10.14 and a beta of 0.96. The firm has a 50-day moving average price of $18.75 and a two-hundred day moving average price of $19.06.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.38). Smith Douglas Homes had a net margin of 1.43% and a return on equity of 1.74%. The company had revenue of $223.92 million during the quarter, compared to analyst estimates of $216.01 million. Research analysts forecast that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently made changes to their positions in SDHC. M&T Bank Corp increased its holdings in shares of Smith Douglas Homes by 8.4% in the first quarter. M&T Bank Corp now owns 11,001 shares of the company’s stock valued at $215,000 after purchasing an additional 848 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Smith Douglas Homes by 1.0% in the first quarter. New York State Common Retirement Fund now owns 185,119 shares of the company’s stock valued at $3,614,000 after purchasing an additional 1,744 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Smith Douglas Homes by 11.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 486,509 shares of the company’s stock worth $9,497,000 after acquiring an additional 50,713 shares during the last quarter. Victory Capital Management Inc. raised its position in Smith Douglas Homes by 80.2% in the first quarter. Victory Capital Management Inc. now owns 14,395 shares of the company’s stock valued at $281,000 after purchasing an additional 6,406 shares during the period. Finally, Wellington Management Group LLP raised its position in Smith Douglas Homes by 32.7% in the first quarter. Wellington Management Group LLP now owns 1,211,274 shares of the company’s stock valued at $23,644,000 after purchasing an additional 298,227 shares during the period.

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.