Smith Douglas Homes (NYSE:SDHC) Stock Price Down 5.6% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC) shares were down 5.6% on Friday . The company traded as low as $19.27 and last traded at $19.26. Approximately 20,149 shares traded hands during trading, a decline of 68% from the average daily volume of 62,205 shares. The stock had previously closed at $20.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SDHC shares. Zacks Research upgraded shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their target price on Smith Douglas Homes from $16.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. BTIG Research initiated coverage on Smith Douglas Homes in a research note on Monday, December 1st. They set a “neutral” rating on the stock. Finally, Wall Street Zen lowered shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $16.60.

Smith Douglas Homes Trading Down 7.8%

The stock has a market capitalization of $968.34 million, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 17.09 and a beta of 0.95. The company has a 50-day moving average price of $19.16 and a 200 day moving average price of $18.86.

Smith Douglas Homes (NYSE:SDHC) last posted its earnings results on Wednesday, November 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.38). The company had revenue of $262.04 million during 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%. As a group, research analysts expect that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Institutional investors have recently bought and sold shares of the company. First Eagle Investment Management LLC increased its position in shares of Smith Douglas Homes by 38.0% during the third quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after purchasing an additional 91,292 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Smith Douglas Homes by 26.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 33,251 shares of the company’s stock worth $587,000 after purchasing an additional 7,025 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Smith Douglas Homes during the 3rd quarter worth $346,000. GSA Capital Partners LLP acquired a new position in Smith Douglas Homes during the 3rd quarter valued at about $188,000. Finally, Vanguard Group Inc. raised its stake in Smith Douglas Homes by 0.9% in the third 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.

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.