Smith Douglas Homes (NYSE:SDHC) Sees Strong Trading Volume – Here’s What Happened

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) saw unusually-strong trading volume on Thursday . Approximately 195,397 shares were traded during trading, an increase of 141% from the previous session’s volume of 81,147 shares.The stock last traded at $12.00 and had previously closed at $11.88.

Analyst Upgrades and Downgrades

SDHC has been the subject of a number of recent research reports. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company reduced their price target on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Thursday, January 22nd. UBS Group reiterated a “positive” rating on shares of Smith Douglas Homes in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 target price on shares of Smith Douglas Homes in a research report on Friday, November 21st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $15.80.

Smith Douglas Homes Trading Up 11.0%

The stock’s 50-day moving average price is $17.51 and its 200-day moving average price is $18.02. The stock has a market cap of $650.33 million, a price-to-earnings ratio of 10.62 and a beta of 1.04.

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

Hedge Funds Weigh In On Smith Douglas Homes

Several institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its position in shares of Smith Douglas Homes by 38.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock valued at $5,857,000 after acquiring an additional 91,292 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Smith Douglas Homes by 26.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 33,251 shares of the company’s stock worth $587,000 after acquiring an additional 7,025 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Smith Douglas Homes in the third quarter worth $188,000. AlphaQuest LLC acquired a new stake in Smith Douglas Homes in the third quarter worth $195,000. Finally, Inspire Advisors LLC bought a new stake in Smith Douglas Homes in the third quarter valued at $214,000.

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.