Smith Douglas Homes (NYSE:SDHC) Shares Up 9.7% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC) shares shot up 9.7% on Friday . The company traded as high as $12.60 and last traded at $12.50. 160,402 shares were traded during mid-day trading, an increase of 81% from the average session volume of 88,791 shares. The stock had previously closed at $11.39.

Analyst Ratings Changes

A number of brokerages recently weighed in on SDHC. BTIG Research assumed coverage on shares of Smith Douglas Homes in a research report on Monday, December 1st. They issued a “neutral” rating for the company. UBS Group reaffirmed a “positive” rating on shares of Smith Douglas Homes in a report on Monday, December 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Thursday, January 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 target price on shares of Smith Douglas Homes in a research report on Friday, November 21st. Finally, Wells Fargo & Company cut their price target on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Smith Douglas Homes currently has a consensus rating of “Reduce” and an average target price of $15.80.

Smith Douglas Homes Stock Up 12.4%

The company has a market capitalization of $658.56 million, a PE ratio of 10.76 and a beta of 1.04. The firm’s 50 day simple moving average is $17.60 and its 200-day simple moving average is $18.07.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.20). Smith Douglas Homes had a net margin of 1.10% and a negative return on equity of 1.05%. The firm had revenue of $260.43 million during the quarter, compared to analyst estimates of $251.09 million. As a group, sell-side analysts anticipate that Smith Douglas Homes Corp. will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Smith Douglas Homes in the 2nd quarter worth about $34,000. Tower Research Capital LLC TRC acquired a new position in shares of Smith Douglas Homes during the 2nd quarter valued at $90,000. GSA Capital Partners LLP acquired a new position in Smith Douglas Homes during the third quarter worth about $188,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Smith Douglas Homes in the 4th quarter worth approximately $182,000. Finally, AlphaQuest LLC bought a new position in shares of Smith Douglas Homes in the third quarter valued at $195,000.

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