Smith Douglas Homes (NYSE:SDHC) Shares Gap Down – Time to Sell?

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $17.90, but opened at $17.03. Smith Douglas Homes shares last traded at $17.17, with a volume of 137 shares changing hands.

Analysts Set New Price Targets

SDHC has been the topic of a number of research reports. UBS Group reaffirmed a “positive” rating on shares of Smith Douglas Homes in a research note on Monday, December 1st. BTIG Research started coverage on Smith Douglas Homes in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. Zacks Research lowered Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target on shares of Smith Douglas Homes in a research note on Friday, November 21st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Smith Douglas Homes currently has a consensus rating of “Reduce” and an average price target of $16.60.

Smith Douglas Homes Price Performance

The company has a market capitalization of $874.34 million, a P/E ratio of 13.60 and a beta of 0.94. The company has a fifty day simple moving average of $18.81 and a two-hundred day simple moving average of $18.58.

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds have recently bought and sold shares of the company. Conifer Management L.L.C. lifted its holdings in shares of Smith Douglas Homes by 68.3% during the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock worth $24,037,000 after buying an additional 581,794 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Smith Douglas Homes by 38.0% in the third quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock valued at $5,857,000 after acquiring an additional 91,292 shares during the period. Wasatch Advisors LP raised its position in Smith Douglas Homes by 6.2% in the fourth quarter. Wasatch Advisors LP now owns 1,249,857 shares of the company’s stock worth $20,960,000 after purchasing an additional 72,525 shares in the last quarter. Covey Capital Advisors LLC acquired a new stake in Smith Douglas Homes during the second quarter valued at approximately $705,000. Finally, Marshall Wace LLP acquired a new position in shares of Smith Douglas Homes in the 2nd quarter worth approximately $644,000.

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