Smith Douglas Homes (NYSE:SDHC) Shares Gap Up – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $9.78, but opened at $10.39. Smith Douglas Homes shares last traded at $10.45, with a volume of 226 shares trading hands.

Analyst Upgrades and Downgrades

SDHC has been the topic of several research analyst reports. Wells Fargo & Company set a $10.00 price target on shares of Smith Douglas Homes in a report on Friday. Royal Bank Of Canada decreased their price objective on Smith Douglas Homes from $15.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.38.

Smith Douglas Homes Price Performance

The business’s 50 day moving average price is $11.37 and its 200 day moving average price is $12.97. The stock has a market capitalization of $531.66 million, a P/E ratio of 14.53 and a beta of 0.90.

Smith Douglas Homes (NYSE:SDHC) last posted its earnings results on Thursday, August 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The firm had revenue of $273.03 million during the quarter, compared to analysts’ expectations of $258.10 million. Smith Douglas Homes had a negative return on equity of 0.19% and a net margin of 0.64%. As a group, analysts forecast that Smith Douglas Homes Corp. will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in Smith Douglas Homes in the 1st quarter valued at about $168,000. Ruane Cunniff & Goldfarb L.P. increased its holdings in shares of Smith Douglas Homes by 18.7% in the first 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. Dimensional Fund Advisors LP purchased a new stake in shares of Smith Douglas Homes during the 1st quarter worth $324,000. Squarepoint Ops LLC lifted its holdings in shares of Smith Douglas Homes by 37.1% in the second 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 in the last quarter. Finally, Conifer Management L.L.C. purchased a new stake in Smith Douglas Homes in the 2nd quarter worth approximately $22,274,259.

Smith Douglas Homes Company Profile

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.