Smith Douglas Homes (NYSE:SDHC) Stock Price Down 5.7% - Should You Sell?

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) shares dropped 5.7% during mid-day trading on Monday . The company traded as low as $35.25 and last traded at $35.36. Approximately 15,494 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 143,204 shares. The stock had previously closed at $37.50.

Wall Street Analysts Forecast Growth

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

Smith Douglas Homes Trading Down 5.9 %

The company's 50 day simple moving average is $36.29 and its 200-day simple moving average is $30.22.

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

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds have recently modified their holdings of SDHC. nVerses Capital LLC acquired a new stake in shares of Smith Douglas Homes in the third quarter worth approximately $34,000. RiverPark Advisors LLC acquired a new stake in shares of Smith Douglas Homes in the second quarter worth approximately $120,000. Sandia Investment Management LP acquired a new stake in shares of Smith Douglas Homes in the first quarter worth approximately $178,000. Azzad Asset Management Inc. ADV acquired a new stake in shares of Smith Douglas Homes in the first quarter worth approximately $331,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Smith Douglas Homes in the first quarter worth approximately $565,000.

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.