Smith Douglas Homes (NYSE:SDHC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Smith Douglas Homes (NYSE:SDHC) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

SDHC has been the subject of a number of other reports. Wall Street Zen downgraded Smith Douglas Homes from a “hold” rating to a “sell” rating in a report on Sunday, November 9th. Wells Fargo & Company reduced their price objective on shares of Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Bank of America dropped their target price on Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, October 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Wednesday, October 8th. Finally, BTIG Research started coverage on Smith Douglas Homes in a research report on Monday, December 1st. They set a “neutral” rating on the stock. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $16.60.

Smith Douglas Homes Stock Performance

Shares of SDHC traded up $0.42 during trading hours on Tuesday, reaching $21.11. 5,305 shares of the company traded hands, compared to its average volume of 63,095. The stock’s fifty day moving average is $19.10 and its 200 day moving average is $18.85. Smith Douglas Homes has a 1-year low of $15.00 and a 1-year high of $25.46. The stock has a market cap of $1.09 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 17.34 and a beta of 0.95.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.38). The firm had revenue of $262.04 million during the quarter, compared to the consensus estimate of $251.41 million. Smith Douglas Homes had a return on equity of 0.12% and a net margin of 1.13%. On average, equities research analysts predict that Smith Douglas Homes will post 1.73 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covey Capital Advisors LLC acquired a new stake in shares of Smith Douglas Homes in the 2nd quarter worth approximately $705,000. First Eagle Investment Management LLC increased its position in Smith Douglas Homes by 1.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 240,382 shares of the company’s stock worth $4,668,000 after buying an additional 4,000 shares during the period. Corton Capital Inc. raised its position in Smith Douglas Homes by 41.0% in the second quarter. Corton Capital Inc. now owns 20,752 shares of the company’s stock worth $403,000 after purchasing an additional 6,036 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Smith Douglas Homes in the second quarter valued at about $644,000. Finally, First Trust Advisors LP lifted its stake in shares of Smith Douglas Homes by 5.8% during the second quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock valued at $564,000 after acquiring an additional 1,583 shares during the period.

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