Smith Douglas Homes Corp. (NYSE:SDHC) Given Average Recommendation of “Reduce” by Brokerages

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) have earned a consensus rating of “Reduce” from the nine brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.80.

A number of equities research analysts have recently issued reports on SDHC shares. Wall Street Zen cut Smith Douglas Homes from a “hold” rating to a “sell” rating in a report on Sunday. JPMorgan Chase & Co. reduced their price target on Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Wells Fargo & Company lowered their price objective on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Thursday, January 22nd. Finally, UBS Group reaffirmed a “positive” rating on shares of Smith Douglas Homes in a research report on Monday, December 1st.

Insider Activity at Smith Douglas Homes

In other Smith Douglas Homes news, Director George Ervin Perdue III bought 20,300 shares of the stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $12.27 per share, with a total value of $249,081.00. Following the completion of the acquisition, the director owned 60,684 shares of the company’s stock, valued at $744,592.68. This trade represents a 50.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have purchased 22,000 shares of company stock worth $268,607 over the last quarter. 82.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Smith Douglas Homes by 8.8% in the 2nd quarter. Geode Capital Management LLC now owns 101,896 shares of the company’s stock valued at $1,980,000 after acquiring an additional 8,201 shares in the last quarter. First Trust Advisors LP raised its stake in Smith Douglas Homes by 5.8% in the second quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock valued at $564,000 after purchasing an additional 1,583 shares in the last quarter. Marshall Wace LLP bought a new stake in Smith Douglas Homes during the second quarter worth about $644,000. Raymond James Financial Inc. acquired a new stake in Smith Douglas Homes during the second quarter worth about $34,000. Finally, Wasatch Advisors LP grew its stake in Smith Douglas Homes by 4.4% during the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock worth $24,845,000 after buying an additional 53,358 shares in the last quarter.

Smith Douglas Homes Price Performance

SDHC stock opened at $11.29 on Friday. Smith Douglas Homes has a one year low of $11.13 and a one year high of $23.50. The stock has a market cap of $580.87 million, a price-to-earnings ratio of 9.49 and a beta of 1.04. The company has a fifty day moving average price of $16.97 and a two-hundred day moving average price of $17.76.

Smith Douglas Homes (NYSE:SDHC) last posted its earnings results on Wednesday, March 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.20). Smith Douglas Homes had a negative return on equity of 1.03% and a net margin of 1.10%.The company had revenue of $260.43 million for the quarter, compared to analyst estimates of $251.09 million. Research analysts anticipate that Smith Douglas Homes will post 1.73 EPS for the current fiscal year.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.