Smith Douglas Homes (NYSE:SDHC) Earns Neutral Rating from Wedbush

Smith Douglas Homes (NYSE:SDHC)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Wedbush in a research note issued on Tuesday,RTT News reports. They currently have a $20.00 target price on the stock. Wedbush’s price target indicates a potential downside of 39.60% from the stock’s current price.

SDHC has been the subject of several other research reports. Bank of America raised their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 target price on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Finally, Wells Fargo & Company upped their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.50.

Smith Douglas Homes Price Performance

SDHC traded down $2.56 during mid-day trading on Tuesday, reaching $33.11. 65,378 shares of the company traded hands, compared to its average volume of 135,308. The company’s fifty day moving average price is $35.78 and its 200-day moving average price is $30.95. 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 posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $220.90 million during the quarter, compared to the consensus estimate of $208.02 million. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts anticipate that Smith Douglas Homes will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in Smith Douglas Homes during the third quarter worth approximately $34,000. RiverPark Advisors LLC acquired a new stake in Smith Douglas Homes in the 2nd quarter valued at $120,000. Sandia Investment Management LP purchased a new stake in Smith Douglas Homes in the 1st quarter worth $178,000. Atria Investments Inc acquired a new position in Smith Douglas Homes during the third quarter worth $204,000. Finally, Portside Wealth Group LLC acquired a new stake in shares of Smith Douglas Homes in the third quarter valued at about $283,000.

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.