Smith Douglas Homes (NYSE:SDHC) Stock Price Down 5.7% – What’s Next?

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) dropped 5.7% during mid-day trading on Monday . The company traded as low as $35.25 and last traded at $35.36. Approximately 15,494 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 143,204 shares. The stock had previously closed at $37.50.

Analyst Ratings Changes

SDHC has been the subject of a number of research reports. Bank of America increased their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Wells Fargo & Company increased their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.50.

Smith Douglas Homes Stock Down 5.9 %

The stock’s fifty day simple moving average is $36.22 and its two-hundred day simple moving average is $30.17.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $220.90 million for the quarter, compared to analysts’ expectations of $208.02 million. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities analysts expect that Smith Douglas Homes Corp. will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of institutional investors have recently made changes to their positions in SDHC. Hood River Capital Management LLC bought a new position in Smith Douglas Homes during the first quarter valued at approximately $14,321,000. Vanguard Group Inc. bought a new position in Smith Douglas Homes in the first quarter worth approximately $13,451,000. Long Pond Capital LP bought a new position in Smith Douglas Homes in the first quarter worth approximately $12,388,000. Zimmer Partners LP bought a new position in Smith Douglas Homes in the first quarter worth approximately $9,652,000. Finally, Thornburg Investment Management Inc. bought a new position in Smith Douglas Homes in the second quarter worth approximately $4,975,000.

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.