Bank of America Has Lowered Expectations for Smith Douglas Homes (NYSE:SDHC) Stock Price

Smith Douglas Homes (NYSE:SDHC) had its target price decreased by equities research analysts at Bank of America from $17.00 to $15.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price would indicate a potential downside of 3.23% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Wednesday. Wall Street Zen cut shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $17.50.

Smith Douglas Homes Price Performance

Shares of NYSE:SDHC opened at $15.50 on Friday. The company’s 50 day simple moving average is $18.83 and its 200 day simple moving average is $19.10. The stock has a market capitalization of $797.48 million, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 10.14 and a beta of 0.96. Smith Douglas Homes has a 1 year low of $15.19 and a 1 year high of $38.06.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.38). The firm had revenue of $223.92 million during the quarter, compared to the consensus estimate of $216.01 million. Smith Douglas Homes had a net margin of 1.43% and a return on equity of 1.74%. As a group, analysts anticipate that Smith Douglas Homes will post 1.73 EPS for the current fiscal year.

Institutional Trading of Smith Douglas Homes

A number of hedge funds have recently added to or reduced their stakes in SDHC. Raymond James Financial Inc. acquired a new stake in Smith Douglas Homes in the second quarter valued at approximately $34,000. Tower Research Capital LLC TRC acquired a new stake in Smith Douglas Homes in the second quarter valued at approximately $90,000. M&T Bank Corp boosted its position 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. PDT Partners LLC boosted its position in Smith Douglas Homes by 10.7% in the first quarter. PDT Partners LLC now owns 13,988 shares of the company’s stock valued at $273,000 after buying an additional 1,349 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Smith Douglas Homes by 80.2% during the first quarter. Victory Capital Management Inc. now owns 14,395 shares of the company’s stock worth $281,000 after purchasing an additional 6,406 shares during the period.

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.