Smith Douglas Homes (NYSE:SDHC) Reaches New 52-Week Low at $21.72

Smith Douglas Homes Corp. (NYSE:SDHC) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $21.72 and last traded at $21.72, with a volume of 8893 shares changing hands. The stock had previously closed at $22.91.

Analyst Upgrades and Downgrades

SDHC has been the subject of a number of research reports. Wedbush reiterated a “neutral” rating and issued a $20.00 price target (down from $21.00) on shares of Smith Douglas Homes in a research note on Tuesday, May 14th. Wells Fargo & Company increased their price target on Smith Douglas Homes from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.10.

Smith Douglas Homes Stock Down 5.8 %

The stock’s fifty day simple moving average is $26.34.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $189.21 million for the quarter, compared to analyst estimates of $187.43 million. Equities research analysts forecast that Smith Douglas Homes Corp. will post 1.69 EPS for the current fiscal year.

Institutional Trading of Smith Douglas Homes

A number of large investors have recently bought and sold shares of the business. SYSTM Wealth Solutions LLC acquired a new stake in Smith Douglas Homes during the 1st quarter worth about $76,000. Sandia Investment Management LP acquired a new stake in Smith Douglas Homes during the 1st quarter worth about $178,000. Azzad Asset Management Inc. ADV acquired a new stake in Smith Douglas Homes during the 1st quarter worth about $331,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Smith Douglas Homes in the 1st quarter valued at about $565,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Smith Douglas Homes in the 1st quarter valued at about $688,000.

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.