Smith Douglas Homes (NYSE:SDHC) Shares Up 4.2%

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price shot up 4.2% during trading on Thursday . The company traded as high as $28.55 and last traded at $28.47. 18,314 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 145,762 shares. The stock had previously closed at $27.31.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective 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. Wedbush reiterated a “neutral” rating and set a $20.00 price target (down from $21.00) on shares of Smith Douglas Homes in a research report on Tuesday, May 14th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.10.

Smith Douglas Homes Price Performance

The company has a 50-day simple moving average of $24.92.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $189.21 million for the quarter, compared to analysts’ expectations of $187.43 million. On average, analysts expect that Smith Douglas Homes Corp. will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of Smith Douglas Homes

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new stake in Smith Douglas Homes in the first quarter worth $565,000. Rokos Capital Management LLP purchased a new position in shares of Smith Douglas Homes in the first quarter worth about $1,786,000. Zimmer Partners LP bought a new stake in shares of Smith Douglas Homes in the 1st quarter valued at about $9,652,000. Sandia Investment Management LP purchased a new stake in Smith Douglas Homes during the 1st quarter valued at about $178,000. Finally, Hood River Capital Management LLC bought a new position in Smith Douglas Homes during the 1st quarter worth approximately $14,321,000.

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.