Smith Douglas Homes (NYSE:SDHC) Stock Price Down 5.7% – What’s Next?

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) dropped 5.7% during trading on Monday . The stock traded as low as $35.25 and last traded at $35.36. Approximately 15,494 shares traded hands during trading, a decline of 89% from the average daily volume of 143,204 shares. The stock had previously closed at $37.50.

Wall Street Analyst Weigh In

SDHC has been the topic of several recent analyst reports. Bank of America raised their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Wells Fargo & Company raised their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.50.

Smith Douglas Homes Stock Down 5.9 %

The business’s 50 day simple moving average is $36.22 and its 200 day simple moving average is $30.17.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 EPS 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. Smith Douglas Homes’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Smith Douglas Homes Corp. will post 1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Smith Douglas Homes

A number of large investors have recently made changes to their positions in SDHC. nVerses Capital LLC purchased a new position in shares of Smith Douglas Homes during the 3rd quarter worth about $34,000. RiverPark Advisors LLC bought a new stake in Smith Douglas Homes during the 2nd quarter valued at about $120,000. Sandia Investment Management LP bought a new stake in Smith Douglas Homes during the 1st quarter valued at about $178,000. Azzad Asset Management Inc. ADV bought a new stake in Smith Douglas Homes during the 1st quarter valued at about $331,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Smith Douglas Homes during the 1st quarter valued at about $565,000.

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.