Smith Douglas Homes (NYSE:SDHC) Trading Up 3.3% – Still a Buy?

Smith Douglas Homes Corp. (NYSE:SDHC) rose 3.3% during mid-day trading on Tuesday . The stock traded as high as $37.85 and last traded at $37.85. Approximately 8,542 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 145,218 shares. The stock had previously closed at $36.63.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SDHC. Wedbush reissued a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their target price on Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Bank of America boosted their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Smith Douglas Homes presently has a consensus rating of “Hold” and an average price target of $31.50.

Smith Douglas Homes Price Performance

The business’s 50-day simple moving average is $36.00 and its 200 day simple moving average is $30.04.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $220.90 million for the quarter, compared to analysts’ expectations of $208.02 million. The company’s revenue was up 21.7% compared to the same quarter last year. On average, equities analysts expect that Smith Douglas Homes Corp. will post 1.66 earnings per share for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently made changes to their positions in SDHC. nVerses Capital LLC bought a new stake in Smith Douglas Homes during the third quarter valued at approximately $34,000. Seven Grand Managers LLC boosted its stake in shares of Smith Douglas Homes by 100.0% during the 3rd quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after acquiring an additional 25,000 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in shares of Smith Douglas Homes by 3.1% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,579 shares of the company’s stock valued at $437,000 after acquiring an additional 349 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Smith Douglas Homes by 38.0% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 26,226 shares of the company’s stock valued at $613,000 after acquiring an additional 7,217 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Smith Douglas Homes by 17.0% in the 2nd quarter. Marshall Wace LLP now owns 89,770 shares of the company’s stock worth $2,099,000 after purchasing an additional 13,036 shares in the last quarter.

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.