Smith Douglas Homes (NYSE:SDHC) Shares Gap Down – What’s Next?

Smith Douglas Homes Corp. (NYSE:SDHC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $11.29, but opened at $10.72. Smith Douglas Homes shares last traded at $10.95, with a volume of 2,625 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Wells Fargo & Company lowered their target price on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Tuesday, April 21st. Zacks Research raised Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Citizens Jmp assumed coverage on Smith Douglas Homes in a research note on Tuesday, March 24th. They set a “market perform” rating for the company. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $13.90.

Smith Douglas Homes Trading Up 5.4%

The company has a market capitalization of $580.42 million, a PE ratio of 12.03 and a beta of 1.31. The stock has a fifty day simple moving average of $13.06 and a 200-day simple moving average of $16.48.

Smith Douglas Homes (NYSE:SDHC) last announced 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 company had revenue of $206.44 million during the quarter, compared to the consensus estimate 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, equities research analysts predict that Smith Douglas Homes Corp. will post 0.35 EPS for the current year.

Insider Transactions at Smith Douglas Homes

In other Smith Douglas Homes news, Director George Ervin Perdue III purchased 20,300 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $12.27 per share, with a total value of $249,081.00. Following the acquisition, the director directly owned 60,684 shares of the company’s stock, valued at approximately $744,592.68. This represents a 50.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders bought 22,000 shares of company stock worth $268,607.

Institutional Trading of Smith Douglas Homes

A number of institutional investors have recently bought and sold shares of the business. Conifer Management L.L.C. lifted its holdings in Smith Douglas Homes by 68.3% during the 4th quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock worth $24,037,000 after buying an additional 581,794 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Smith Douglas Homes by 4.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock worth $24,845,000 after buying an additional 53,358 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Smith Douglas Homes by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock worth $19,738,000 after buying an additional 24,996 shares during the last quarter. Beck Mack & Oliver LLC lifted its holdings in Smith Douglas Homes by 0.4% during the 4th quarter. Beck Mack & Oliver LLC now owns 816,447 shares of the company’s stock worth $13,692,000 after buying an additional 3,605 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Smith Douglas Homes by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock worth $7,965,000 after buying an additional 3,884 shares during the last quarter.

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.