Smith Douglas Homes (NYSE:SDHC) Hits New 52-Week Low on Analyst Downgrade

Smith Douglas Homes Corp. (NYSE:SDHC) hit a new 52-week low on Thursday after Wells Fargo & Company lowered their price target on the stock from $24.00 to $21.00. Wells Fargo & Company currently has an equal weight rating on the stock. Smith Douglas Homes traded as low as $19.01 and last traded at $19.47, with a volume of 38064 shares. The stock had previously closed at $20.70.

Several other research firms have also recently issued reports on SDHC. JPMorgan Chase & Co. cut their price objective on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Bank of America cut Smith Douglas Homes from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $33.00 to $22.00 in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Smith Douglas Homes currently has a consensus rating of “Hold” and an average target price of $24.80.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of Smith Douglas Homes by 1,551.9% in the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock valued at $806,000 after buying an additional 20,051 shares in the last quarter. Atria Investments Inc purchased a new position in shares of Smith Douglas Homes in the third quarter valued at $204,000. BNP Paribas Financial Markets purchased a new position in shares of Smith Douglas Homes in the third quarter valued at $591,000. Jane Street Group LLC purchased a new position in shares of Smith Douglas Homes in the third quarter valued at $530,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Smith Douglas Homes by 31.2% in the third quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock valued at $1,114,000 after buying an additional 7,015 shares in the last quarter.

Smith Douglas Homes Price Performance

The business has a 50-day moving average price of $23.02 and a two-hundred day moving average price of $29.97.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. As a group, sell-side analysts forecast that Smith Douglas Homes Corp. will post 1.73 EPS for the current year.

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.