Smith Douglas Homes (NYSE:SDHC) Hits New 12-Month Low on Analyst Downgrade

Smith Douglas Homes Corp. (NYSE:SDHC) shares hit a new 52-week low during mid-day trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $21.00 to $16.00. Royal Bank of Canada currently has a sector perform rating on the stock. Smith Douglas Homes traded as low as $17.02 and last traded at $17.09, with a volume of 74400 shares trading hands. The stock had previously closed at $18.15.

Several other brokerages have also recently issued reports on SDHC. Bank of America cut shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $22.00 in a report on Monday, January 27th. Wells Fargo & Company decreased their price objective on shares of Smith Douglas Homes from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Finally, Wedbush reiterated a “neutral” rating and set a $18.00 target price on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.20.

Insider Buying and Selling at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 6,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was acquired at an average cost of $18.49 per share, with a total value of $110,940.00. Following the purchase, the director now owns 25,682 shares in the company, valued at approximately $474,860.18. This represents a 30.48% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 82.71% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Arcadia Investment Management Corp MI acquired a new position in shares of Smith Douglas Homes during the 4th quarter worth $27,000. Trexquant Investment LP acquired a new position in Smith Douglas Homes during the fourth quarter worth about $218,000. Yorktown Management & Research Co Inc purchased a new position in Smith Douglas Homes in the fourth quarter valued at about $236,000. M&T Bank Corp increased its holdings in Smith Douglas Homes by 8.4% in the first quarter. M&T Bank Corp now owns 11,001 shares of the company’s stock valued at $215,000 after buying an additional 848 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Smith Douglas Homes during the 4th quarter valued at approximately $328,000.

Smith Douglas Homes Trading Down 5.8%

The company has a 50 day moving average price of $19.28 and a 200 day moving average price of $24.29. The firm has a market cap of $878.89 million, a PE ratio of 9.88, a price-to-earnings-growth ratio of 6.87 and a beta of 1.28.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $287.49 million during the quarter, compared to analysts’ expectations of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. As a group, equities research analysts anticipate that Smith Douglas Homes Corp. will post 1.73 earnings per share 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.