Bank of America Increases Smith Douglas Homes (NYSE:SDHC) Price Target to $40.00

Smith Douglas Homes (NYSE:SDHC) had its price objective hoisted by analysts at Bank of America from $36.00 to $40.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price would suggest a potential upside of 6.75% from the stock’s current price.

Several other research analysts have also recently weighed in on SDHC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price target on shares of Smith Douglas Homes in a report on Thursday, August 15th. Wedbush reiterated a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Finally, Wells Fargo & Company upped their price target on shares of Smith Douglas Homes from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and a consensus price target of $30.50.

Smith Douglas Homes Stock Performance

Shares of NYSE SDHC opened at $37.47 on Thursday. The firm has a 50 day moving average price of $33.48 and a 200 day moving average price of $29.26. Smith Douglas Homes has a 52-week low of $20.55 and a 52-week high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 earnings per share (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 analyst estimates of $208.02 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts forecast that Smith Douglas Homes will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SDHC. Azzad Asset Management Inc. ADV acquired a new position in Smith Douglas Homes during the first quarter worth $331,000. Norden Group LLC acquired a new position in Smith Douglas Homes during the first quarter worth $2,331,000. SYSTM Wealth Solutions LLC acquired a new position in Smith Douglas Homes during the first quarter worth $76,000. Peregrine Capital Management LLC acquired a new position in Smith Douglas Homes during the first quarter worth $867,000. Finally, Caas Capital Management LP acquired a new position in Smith Douglas Homes during the first quarter worth $1,079,000.

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.