Smith Douglas Homes (NYSE:SDHC) Stock Price Up 3.3% - Should You Buy?

Shares of Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) traded up 3.3% on Tuesday . The company traded as high as $37.85 and last traded at $37.85. 8,542 shares were traded during mid-day trading, a decline of 94% from the average session volume of 145,218 shares. The stock had previously closed at $36.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SDHC shares. Wells Fargo & Company upped their target price on Smith Douglas Homes from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Wedbush reiterated a "neutral" rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, August 14th. Royal Bank of Canada restated a "sector perform" rating and set a $26.00 price target on shares of Smith Douglas Homes in a report on Thursday, August 15th. Finally, Bank of America increased their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Smith Douglas Homes currently has a consensus rating of "Hold" and an average price target of $31.50.

Smith Douglas Homes Price Performance

The firm has a 50-day moving average of $35.74 and a 200 day moving average of $29.94.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $220.90 million for the quarter, compared to analyst estimates of $208.02 million. The company's quarterly revenue was up 21.7% on a year-over-year basis. On average, analysts predict that Smith Douglas Homes Corp. will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Several large investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in Smith Douglas Homes during the 1st quarter worth about $14,321,000. Vanguard Group Inc. acquired a new position in Smith Douglas Homes during the 1st quarter worth $13,451,000. Long Pond Capital LP acquired a new stake in shares of Smith Douglas Homes in the 1st quarter valued at $12,388,000. Zimmer Partners LP acquired a new stake in Smith Douglas Homes in the first quarter worth about $9,652,000. Finally, Thornburg Investment Management Inc. acquired a new position in Smith Douglas Homes during the 2nd quarter valued at about $4,975,000.

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.