Smith Douglas Homes (NYSE:SDHC) Stock Price Up 8.6% – Should You Buy?

Smith Douglas Homes Corp. (NYSE:SDHC) rose 8.6% during trading on Wednesday . The stock traded as high as $14.43 and last traded at $14.38. Approximately 38,334 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 110,905 shares. The stock had previously closed at $13.24.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SDHC. JPMorgan Chase & Co. decreased their price objective on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Zelman & Associates assumed coverage on shares of Smith Douglas Homes in a report on Monday, April 6th. They issued a “neutral” rating and a $13.50 target price on the stock. Zacks Research raised shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Wells Fargo & Company decreased their target price on shares of Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Finally, Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $13.90.

Smith Douglas Homes Trading Up 9.7%

The stock has a 50 day simple moving average of $13.03 and a 200-day simple moving average of $15.57. The firm has a market capitalization of $737.33 million, a P/E ratio of 15.28 and a beta of 1.13.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Smith Douglas Homes had a net margin of 0.90% and a negative return on equity of 0.78%. The firm had revenue of $206.44 million during the quarter, compared to analyst estimates of $200.70 million. As a group, sell-side analysts expect that Smith Douglas Homes Corp. will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of Smith Douglas Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in Smith Douglas Homes in the second quarter worth approximately $34,000. Tower Research Capital LLC TRC purchased a new position in shares of Smith Douglas Homes during the 2nd quarter worth $90,000. Hsbc Holdings PLC bought a new stake in shares of Smith Douglas Homes during the 1st quarter valued at $168,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Smith Douglas Homes during the 4th quarter valued at $182,000. Finally, Ruane Cunniff & Goldfarb L.P. increased its stake in shares of Smith Douglas Homes by 18.7% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company’s stock worth $185,000 after purchasing an additional 2,281 shares in the last quarter.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.