Smith Douglas Homes (NYSE:SDHC) PT Raised to $40.00

Smith Douglas Homes (NYSE:SDHC) had its price target increased by Bank of America from $36.00 to $40.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on SDHC. Wedbush reiterated a neutral rating and set a $20.00 price objective on shares of Smith Douglas Homes in a research note on Wednesday, August 14th. Wells Fargo & Company lifted their price target on Smith Douglas Homes from $25.00 to $35.00 and gave the company an equal weight rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $26.00 price target on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $30.50.

Smith Douglas Homes Stock Down 3.2 %

Shares of NYSE SDHC opened at $37.47 on Thursday. Smith Douglas Homes has a twelve month low of $20.55 and a twelve month high of $39.50. The business has a fifty day simple moving average of $33.48 and a two-hundred day simple moving average of $29.24.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $220.90 million during the quarter, compared to analysts’ expectations of $208.02 million. The firm’s revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts expect that Smith Douglas Homes will post 1.66 EPS for the current year.

Hedge Funds Weigh In On Smith Douglas Homes

Several institutional investors and hedge funds have recently bought and sold shares of the company. SYSTM Wealth Solutions LLC purchased a new stake in shares of Smith Douglas Homes during the 1st quarter valued at $76,000. RiverPark Advisors LLC purchased a new stake in Smith Douglas Homes in the second quarter valued at about $120,000. Sandia Investment Management LP purchased a new stake in Smith Douglas Homes in the first quarter valued at about $178,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Smith Douglas Homes by 38.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,226 shares of the company’s stock worth $613,000 after acquiring an additional 7,217 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Smith Douglas Homes by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 450,193 shares of the company’s stock worth $10,526,000 after acquiring an additional 8,193 shares during 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.