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

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) have been assigned an average recommendation of “Reduce” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.90.

A number of brokerages have recently issued reports on SDHC. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Saturday, September 27th. Bank of America increased their target price on Smith Douglas Homes from $16.00 to $17.00 and gave the stock an “underperform” rating in a report on Thursday, September 18th. Finally, Wall Street Zen cut Smith Douglas Homes from a “hold” rating to a “sell” rating in a report on Saturday, August 9th.

Smith Douglas Homes Stock Down 2.5%

Smith Douglas Homes stock opened at $17.61 on Friday. The business has a 50 day moving average price of $19.16 and a two-hundred day moving average price of $19.23. The stock has a market cap of $905.78 million, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 11.55 and a beta of 0.96. Smith Douglas Homes has a 12 month low of $16.28 and a 12 month high of $39.46.

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

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Smith Douglas Homes in the 2nd quarter worth approximately $34,000. Tower Research Capital LLC TRC acquired a new position in shares of Smith Douglas Homes in the 2nd quarter worth approximately $90,000. M&T Bank Corp grew its position in Smith Douglas Homes by 8.4% during the 1st quarter. M&T Bank Corp now owns 11,001 shares of the company’s stock worth $215,000 after acquiring an additional 848 shares during the last quarter. PDT Partners LLC grew its position in Smith Douglas Homes by 10.7% during the 1st quarter. PDT Partners LLC now owns 13,988 shares of the company’s stock worth $273,000 after acquiring an additional 1,349 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Smith Douglas Homes by 80.2% during the 1st quarter. Victory Capital Management Inc. now owns 14,395 shares of the company’s stock worth $281,000 after acquiring an additional 6,406 shares during the last quarter.

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.