Smith Douglas Homes (NYSE:SDHC) Stock Price Up 3.2% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price shot up 3.2% during mid-day trading on Thursday . The stock traded as high as $20.78 and last traded at $20.75. 14,184 shares changed hands during trading, a decline of 88% from the average session volume of 114,493 shares. The stock had previously closed at $20.10.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Bank of America lowered Smith Douglas Homes from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $22.00 in a research note on Monday, January 27th. Wells Fargo & Company decreased their price objective on shares of Smith Douglas Homes from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.80.

Smith Douglas Homes Stock Up 2.7 %

The firm has a market capitalization of $1.06 billion, a P/E ratio of 11.73, a PEG ratio of 6.87 and a beta of 1.44. The business’s 50-day simple moving average is $22.80 and its 200 day simple moving average is $29.58.

Smith Douglas Homes (NYSE:SDHC) last issued its earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $287.49 million for the quarter, compared to analysts’ expectations of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. Sell-side analysts predict that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Hedge Funds Weigh In On Smith Douglas Homes

Large investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI bought a new position in shares of Smith Douglas Homes in the 4th quarter worth approximately $27,000. Quantbot Technologies LP raised its position in Smith Douglas Homes by 287.0% in the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after buying an additional 2,738 shares during the last quarter. Atria Investments Inc bought a new position in Smith Douglas Homes during the third quarter valued at approximately $204,000. Trexquant Investment LP bought a new stake in shares of Smith Douglas Homes in the fourth quarter worth $218,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Smith Douglas Homes during the 4th quarter valued at about $236,000.

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.