Smith Douglas Homes (NYSE:SDHC) Hits New 52-Week Low on Analyst Downgrade

Smith Douglas Homes Corp. (NYSE:SDHC) hit a new 52-week low during trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $21.00 to $16.00. Royal Bank of Canada currently has a sector perform rating on the stock. Smith Douglas Homes traded as low as $17.02 and last traded at $17.09, with a volume of 74400 shares. The stock had previously closed at $18.15.

A number of other brokerages have also issued reports on SDHC. Wells Fargo & Company decreased their target price on shares of Smith Douglas Homes from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Bank of America lowered Smith Douglas Homes from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $33.00 to $22.00 in a research note on Monday, January 27th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Smith Douglas Homes presently has an average rating of “Hold” and an average target price of $22.20.

Insider Activity at Smith Douglas Homes

In other news, Director Jeffrey T. Jackson purchased 6,000 shares of the stock in a transaction on Friday, May 16th. The stock was purchased at an average price of $18.49 per share, with a total value of $110,940.00. Following the completion of the transaction, the director now owns 25,682 shares in the company, valued at approximately $474,860.18. The trade was a 30.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 82.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Smith Douglas Homes

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Smith Douglas Homes by 1,551.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock worth $806,000 after purchasing an additional 20,051 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Smith Douglas Homes during the fourth quarter worth approximately $27,000. Artisan Partners Limited Partnership increased its position in shares of Smith Douglas Homes by 4.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company’s stock worth $20,847,000 after acquiring an additional 35,702 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Smith Douglas Homes in the fourth quarter worth $328,000. Finally, Renaissance Technologies LLC raised its stake in shares of Smith Douglas Homes by 31.9% in the 4th quarter. Renaissance Technologies LLC now owns 99,200 shares of the company’s stock valued at $2,543,000 after acquiring an additional 24,000 shares during the period.

Smith Douglas Homes Stock Performance

The company’s fifty day moving average is $19.28 and its two-hundred day moving average is $24.29. The firm has a market cap of $878.89 million, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 6.87 and a beta of 1.28.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. The company had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. As a group, analysts forecast that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

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.