Wells Fargo & Company Has Lowered Expectations for Smith Douglas Homes (NYSE:SDHC) Stock Price

Smith Douglas Homes (NYSE:SDHC) had its price objective reduced by research analysts at Wells Fargo & Company from $24.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 6.91% from the company’s current price.

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

Smith Douglas Homes Stock Performance

Smith Douglas Homes stock opened at $19.64 on Thursday. Smith Douglas Homes has a 52-week low of $19.00 and a 52-week high of $39.50. The stock’s 50 day moving average price is $23.02 and its two-hundred day moving average price is $29.97.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $287.49 million for the quarter, compared to analysts’ expectations of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. Analysts anticipate that Smith Douglas Homes will post 1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Smith Douglas Homes

A number of large investors have recently modified their holdings of the company. Wasatch Advisors LP lifted its holdings in shares of Smith Douglas Homes by 438.9% in the 4th quarter. Wasatch Advisors LP now owns 1,156,019 shares of the company’s stock worth $29,640,000 after purchasing an additional 941,511 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Smith Douglas Homes by 4.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company’s stock worth $20,847,000 after purchasing an additional 35,702 shares in the last quarter. Beck Mack & Oliver LLC raised its position in Smith Douglas Homes by 58.1% in the 4th quarter. Beck Mack & Oliver LLC now owns 699,430 shares of the company’s stock valued at $17,933,000 after buying an additional 256,950 shares during the last quarter. First Eagle Investment Management LLC raised its position in Smith Douglas Homes by 52.8% in the 4th quarter. First Eagle Investment Management LLC now owns 148,882 shares of the company’s stock valued at $3,817,000 after buying an additional 51,419 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Smith Douglas Homes by 31.9% in the 4th quarter. Renaissance Technologies LLC now owns 99,200 shares of the company’s stock valued at $2,543,000 after buying an additional 24,000 shares during the last quarter.

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.