Smith Douglas Homes (NYSE:SDHC) Stock Rating Lowered by Zacks Research

Smith Douglas Homes (NYSE:SDHC) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on SDHC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Thursday, January 22nd. BTIG Research began coverage on Smith Douglas Homes in a report on Monday, December 1st. They set a “neutral” rating for the company. Wall Street Zen lowered Smith Douglas Homes from a “hold” rating to a “sell” rating in a report on Sunday, November 9th. Wells Fargo & Company cut their price target on shares of Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Finally, UBS Group reaffirmed a “positive” rating on shares of Smith Douglas Homes in a report on Monday, December 1st. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $16.60.

Smith Douglas Homes Stock Down 5.0%

Shares of NYSE:SDHC opened at $17.00 on Wednesday. Smith Douglas Homes has a twelve month low of $15.00 and a twelve month high of $24.75. The stock’s 50 day moving average is $18.81 and its 200-day moving average is $18.58. The firm has a market capitalization of $874.65 million, a price-to-earnings ratio of 13.60 and a beta of 0.94.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Covey Capital Advisors LLC purchased a new stake in shares of Smith Douglas Homes in the 2nd quarter valued at about $705,000. First Eagle Investment Management LLC increased its position in shares of Smith Douglas Homes by 1.7% in the second quarter. First Eagle Investment Management LLC now owns 240,382 shares of the company’s stock worth $4,668,000 after purchasing an additional 4,000 shares during the last quarter. Corton Capital Inc. raised its stake in Smith Douglas Homes by 41.0% in the second quarter. Corton Capital Inc. now owns 20,752 shares of the company’s stock valued at $403,000 after purchasing an additional 6,036 shares in the last quarter. Quent Capital LLC bought a new stake in Smith Douglas Homes during the fourth quarter valued at approximately $386,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in 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 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. was founded in 2008 and is headquartered in Woodstock, Georgia.