Smith Douglas Homes (NYSE:SDHC) Reaches New 52-Week Low – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $10.72 and last traded at $11.43, with a volume of 87997 shares trading hands. The stock had previously closed at $10.84.

Analysts Set New Price Targets

A number of research firms have commented on SDHC. JPMorgan Chase & Co. decreased their price target 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. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Tuesday, April 21st. Zelman & Associates began coverage on Smith Douglas Homes in a research note on Monday, April 6th. They issued a “neutral” rating and a $13.50 price objective for the company. Wall Street Zen upgraded Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Citizens Jmp began coverage on Smith Douglas Homes in a research note on Tuesday, March 24th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $13.90.

Smith Douglas Homes Stock Up 0.4%

The stock has a market capitalization of $593.11 million, a PE ratio of 12.29 and a beta of 1.31. The firm has a 50 day moving average price of $12.98 and a 200-day moving average price of $16.36.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Smith Douglas Homes had a negative return on equity of 0.78% and a net margin of 0.90%.The firm had revenue of $206.44 million during the quarter, compared to analysts’ expectations of $200.70 million. Equities analysts expect that Smith Douglas Homes Corp. will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director George Ervin Perdue III purchased 20,300 shares of Smith Douglas Homes stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $12.27 per share, for a total transaction of $249,081.00. Following the completion of the transaction, the director owned 60,684 shares in the company, valued at $744,592.68. The trade was a 50.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased 24,000 shares of company stock worth $290,367 in the last three months. 82.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Smith Douglas Homes during the second quarter valued at approximately $34,000. Tower Research Capital LLC TRC purchased a new position in Smith Douglas Homes during the second quarter valued at approximately $90,000. GSA Capital Partners LLP purchased a new position in Smith Douglas Homes during the third quarter valued at approximately $188,000. Price T Rowe Associates Inc. MD purchased a new position in Smith Douglas Homes during the fourth quarter valued at approximately $182,000. Finally, AlphaQuest LLC purchased a new position in Smith Douglas Homes during the third quarter valued at approximately $195,000.

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.