Smith Douglas Homes (NYSE:SDHC) Reaches New 52-Week Low – Here’s What Happened

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) reached a new 52-week low on Thursday . The stock traded as low as $10.72 and last traded at $11.43, with a volume of 87997 shares traded. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SDHC shares. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research raised Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Citizens Jmp started coverage on Smith Douglas Homes in a research report on Tuesday, March 24th. They set a “market perform” rating on the stock. Wells Fargo & Company dropped their price target 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. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Smith Douglas Homes presently has a consensus rating of “Reduce” and an average target price of $13.90.

Smith Douglas Homes Stock Performance

The firm has a market capitalization of $580.42 million, a P/E ratio of 12.03 and a beta of 1.31. The business has a 50 day simple moving average of $13.02 and a two-hundred day simple moving average of $16.43.

Smith Douglas Homes (NYSE:SDHC) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $206.44 million for the quarter, compared to analyst estimates of $200.70 million. Smith Douglas Homes had a negative return on equity of 0.78% and a net margin of 0.90%. On average, equities analysts anticipate that Smith Douglas Homes Corp. will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director George Ervin Perdue III bought 20,300 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $12.27 per share, for a total transaction of $249,081.00. Following the acquisition, the director directly owned 60,684 shares of the company’s stock, valued at $744,592.68. The trade was a 50.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders bought 22,000 shares of company stock worth $268,607. Corporate insiders own 82.71% of the company’s stock.

Institutional Investors Weigh In On Smith Douglas Homes

Institutional investors and hedge funds have recently bought and sold shares of the business. Conifer Management L.L.C. increased its holdings in shares of Smith Douglas Homes by 68.3% in the 4th quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock worth $24,037,000 after purchasing an additional 581,794 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Smith Douglas Homes by 38.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after purchasing an additional 91,292 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Smith Douglas Homes by 6.2% in the 4th quarter. Wasatch Advisors LP now owns 1,249,857 shares of the company’s stock worth $20,960,000 after purchasing an additional 72,525 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Smith Douglas Homes in the 2nd quarter worth $644,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Smith Douglas Homes in the 1st quarter worth $324,000.

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.