Smith Douglas Homes Corp. (NYSE:SDHC) Receives $29.70 Average PT from Analysts

Smith Douglas Homes Corp. (NYSE:SDHC) has earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $30.50.

SDHC has been the topic of a number of recent analyst reports. Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Wells Fargo & Company increased their price target on shares of Smith Douglas Homes from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, August 15th. Finally, Bank of America increased their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC purchased a new position in shares of Smith Douglas Homes during the 1st quarter worth approximately $14,321,000. Vanguard Group Inc. acquired a new stake in Smith Douglas Homes during the 1st quarter valued at $13,451,000. Long Pond Capital LP purchased a new position in Smith Douglas Homes during the first quarter worth $12,388,000. Zimmer Partners LP acquired a new position in shares of Smith Douglas Homes in the first quarter worth $9,652,000. Finally, Thornburg Investment Management Inc. acquired a new position in shares of Smith Douglas Homes in the second quarter worth $4,975,000.

Smith Douglas Homes Stock Down 4.8 %

Shares of NYSE:SDHC opened at $35.67 on Tuesday. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $39.50. The firm’s 50-day simple moving average is $33.71 and its 200-day simple moving average is $29.27.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, beating 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% on a year-over-year basis. Equities research analysts expect that Smith Douglas Homes will post 1.66 EPS for the current fiscal year.

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.