Zacks Research Upgrades Smith Douglas Homes (NYSE:SDHC) to Hold

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

Other equities research analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Wednesday, October 8th. Bank of America lowered their price target on Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating on the stock in a research report on Friday, October 10th. Wall Street Zen downgraded Smith Douglas Homes from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. UBS Group reissued a “positive” rating on shares of Smith Douglas Homes in a report on Monday, December 1st. Finally, Royal Bank Of Canada reduced their price target on shares of Smith Douglas Homes from $16.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Smith Douglas Homes currently has an average rating of “Reduce” and a consensus target price of $16.60.

Smith Douglas Homes Price Performance

NYSE:SDHC traded up $0.39 during trading hours on Tuesday, reaching $21.08. The company had a trading volume of 5,496 shares, compared to its average volume of 63,100. The firm has a market cap of $1.08 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 17.34 and a beta of 0.95. Smith Douglas Homes has a 1-year low of $15.00 and a 1-year high of $25.46. The business’s 50 day moving average price is $19.10 and its 200-day moving average price is $18.85.

Smith Douglas Homes (NYSE:SDHC) last posted its earnings results on Wednesday, November 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.38). The firm had revenue of $262.04 million during the quarter, compared to analyst estimates of $251.41 million. Smith Douglas Homes had a net margin of 1.13% and a return on equity of 0.12%. On average, analysts expect that Smith Douglas Homes will post 1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP increased its stake in Smith Douglas Homes by 4.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock valued at $24,845,000 after buying an additional 53,358 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Smith Douglas Homes by 0.9% in the third quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock valued at $7,965,000 after acquiring an additional 3,884 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Smith Douglas Homes by 38.0% in the third 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 last quarter. Geode Capital Management LLC raised its holdings in Smith Douglas Homes by 8.8% during the second quarter. Geode Capital Management LLC now owns 101,896 shares of the company’s stock worth $1,980,000 after acquiring an additional 8,201 shares in the last quarter. Finally, Covey Capital Advisors LLC acquired a new position in Smith Douglas Homes during the second quarter valued at approximately $705,000.

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.