Smith Douglas Homes (NYSE:SDHC) Shares Gap Down – Here’s Why

Smith Douglas Homes Corp. (NYSE:SDHC) gapped down prior to trading on Tuesday . The stock had previously closed at $15.44, but opened at $14.49. Smith Douglas Homes shares last traded at $14.61, with a volume of 3,602 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SDHC shares. Zacks Research upgraded shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Smith Douglas Homes from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Citizens Jmp started coverage on shares of Smith Douglas Homes in a report on Tuesday, March 24th. They issued a “market perform” rating on the stock. Zelman & Associates began coverage on shares of Smith Douglas Homes in a research report on Monday, April 6th. They set a “neutral” rating and a $13.50 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Friday. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $13.90.

Smith Douglas Homes Stock Down 1.0%

The company has a 50 day simple moving average of $13.62 and a 200-day simple moving average of $14.99. The stock has a market capitalization of $736.31 million, a price-to-earnings ratio of 15.26 and a beta of 0.87.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $206.44 million for the quarter, compared to analysts’ expectations of $200.70 million. Smith Douglas Homes had a negative return on equity of 0.78% and a net margin of 0.90%. As a group, sell-side analysts anticipate that Smith Douglas Homes Corp. will post 0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Eagle Investment Management LLC grew its holdings in Smith Douglas Homes by 14.2% in the fourth quarter. First Eagle Investment Management LLC now owns 378,774 shares of the company’s stock worth $6,352,000 after purchasing an additional 47,100 shares during the period. Conifer Management L.L.C. increased its stake in Smith Douglas Homes by 68.3% in the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock valued at $24,037,000 after purchasing an additional 581,794 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Smith Douglas Homes by 13.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 37,859 shares of the company’s stock valued at $635,000 after purchasing an additional 4,608 shares during the period. Quent Capital LLC acquired a new position in shares of Smith Douglas Homes during the fourth quarter valued at about $386,000. Finally, VARCOV Co. bought a new position in shares of Smith Douglas Homes during the 4th quarter worth about $200,000.

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.