Smith Douglas Homes (NYSE:SDHC) Hits New 52-Week Low at $23.22

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.22 and last traded at $23.47, with a volume of 37287 shares changing hands. The stock had previously closed at $24.15.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush reissued a “neutral” rating and set a $20.00 target price (down previously from $21.00) on shares of Smith Douglas Homes in a research note on Tuesday, May 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, March 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Smith Douglas Homes from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.10.

Smith Douglas Homes Stock Performance

The stock has a 50-day simple moving average of $27.18.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $189.21 million for the quarter, compared to the consensus estimate of $187.43 million. As a group, equities research analysts anticipate that Smith Douglas Homes Corp. will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC bought a new stake in Smith Douglas Homes in the first quarter valued at about $14,321,000. Vanguard Group Inc. bought a new stake in Smith Douglas Homes in the first quarter valued at about $13,451,000. Long Pond Capital LP bought a new stake in Smith Douglas Homes in the first quarter valued at about $12,388,000. Zimmer Partners LP bought a new stake in Smith Douglas Homes in the first quarter valued at about $9,652,000. Finally, Lisanti Capital Growth LLC bought a new stake in Smith Douglas Homes in the first quarter valued at about $3,973,000.

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.