Smith Douglas Homes (NYSE:SDHC) Price Target Lowered to $18.00 at Wells Fargo & Company

Smith Douglas Homes (NYSE:SDHC) had its target price lowered by Wells Fargo & Company from $20.00 to $18.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Zacks Research raised shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Bank of America reduced their price objective on shares of Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating for the company in a research note on Friday, October 10th. Wall Street Zen upgraded shares of Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $16.90.

Smith Douglas Homes Trading Up 3.1%

Shares of NYSE SDHC traded up $0.52 during mid-day trading on Friday, hitting $17.28. The company had a trading volume of 73,439 shares, compared to its average volume of 100,781. Smith Douglas Homes has a 1 year low of $15.00 and a 1 year high of $37.90. The company has a market capitalization of $889.11 million, a price-to-earnings ratio of 13.82, a P/E/G ratio of 11.26 and a beta of 0.96. The stock’s 50-day moving average price is $17.77 and its 200-day moving average price is $18.85.

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

Institutional Trading of Smith Douglas Homes

A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in Smith Douglas Homes in the third quarter worth $188,000. Vanguard Group Inc. raised its position in Smith Douglas Homes by 0.9% during the third quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock valued at $7,965,000 after purchasing an additional 3,884 shares in the last quarter. AlphaQuest LLC bought a new stake in Smith Douglas Homes during the third quarter worth about $195,000. Inspire Advisors LLC purchased a new position in shares of Smith Douglas Homes in the 3rd quarter worth about $214,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Smith Douglas Homes in the 2nd quarter worth about $90,000.

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.