Smith Douglas Homes (NYSE:SDHC) Reaches New 52-Week Low at $21.72

Smith Douglas Homes Corp. (NYSE:SDHC) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $21.72 and last traded at $21.72, with a volume of 8893 shares traded. The stock had previously closed at $22.91.

Analyst Ratings Changes

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

Smith Douglas Homes Stock Performance

The business has a 50 day simple moving average of $26.34.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $189.21 million for the quarter, compared to the consensus estimate of $187.43 million. Equities analysts anticipate that Smith Douglas Homes Corp. will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky bought a new position in shares of Smith Douglas Homes during the first quarter valued at about $565,000. Rokos Capital Management LLP purchased a new position in shares of Smith Douglas Homes during the first quarter valued at about $1,786,000. Zimmer Partners LP purchased a new position in shares of Smith Douglas Homes during the first quarter valued at about $9,652,000. Sandia Investment Management LP purchased a new position in shares of Smith Douglas Homes during the first quarter valued at about $178,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Smith Douglas Homes during the first quarter valued at about $14,321,000.

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.