Smith Douglas Homes (NYSE:SDHC) Sees Strong Trading Volume

Smith Douglas Homes Corp. (NYSE:SDHC) shares saw unusually-high trading volume on Thursday . Approximately 166,546 shares traded hands during trading, an increase of 11% from the previous session’s volume of 149,463 shares.The stock last traded at $36.89 and had previously closed at $34.42.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Wells Fargo & Company increased their target price on Smith Douglas Homes from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Bank of America upped their price target on shares of Smith Douglas Homes from $30.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Smith Douglas Homes currently has an average rating of “Hold” and a consensus price target of $29.70.

Smith Douglas Homes Price Performance

The company’s 50-day moving average price is $31.34 and its two-hundred day moving average price is $28.88.

Smith Douglas Homes (NYSE:SDHC) last released its earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $220.90 million for the quarter, compared to the consensus estimate of $208.02 million. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, sell-side analysts predict that Smith Douglas Homes Corp. will post 1.66 EPS for the current fiscal year.

Institutional Trading of Smith Douglas Homes

Large investors have recently made changes to their positions in the company. Norden Group LLC acquired a new position in shares of Smith Douglas Homes during the 1st quarter worth $2,331,000. Sei Investments Co. bought a new position in Smith Douglas Homes during the 1st quarter valued at $1,015,000. Capstone Investment Advisors LLC purchased a new stake in Smith Douglas Homes in the first quarter worth $1,625,000. Lisanti Capital Growth LLC bought a new position in shares of Smith Douglas Homes during the 1st quarter worth $3,973,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in Smith Douglas Homes in the 1st quarter worth about $565,000.

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.