Smith Douglas Homes (NYSE:SDHC) Price Target Lowered to $21.00 at Wells Fargo & Company

Smith Douglas Homes (NYSE:SDHC - Get Free Report) had its target price lowered by Wells Fargo & Company from $24.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 7.17% from the company's current price.

Several other equities analysts also recently issued reports on SDHC. Bank of America downgraded shares of Smith Douglas Homes from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $33.00 to $22.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. decreased their target price on Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $24.80.

Smith Douglas Homes Stock Down 5.3 %

Smith Douglas Homes stock traded down $1.11 during midday trading on Thursday, reaching $19.60. The company's stock had a trading volume of 34,458 shares, compared to its average volume of 117,864. The business has a 50-day simple moving average of $23.23 and a 200-day simple moving average of $30.18. Smith Douglas Homes has a fifty-two week low of $19.14 and a fifty-two week high of $39.50.

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Smith Douglas Homes (NYSE:SDHC - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 earnings per share for the quarter, hitting analysts' consensus estimates of $0.46. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. The company had revenue of $287.49 million for the quarter, compared to analysts' expectations of $265.85 million. On average, sell-side analysts expect that Smith Douglas Homes will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Smith Douglas Homes by 1,551.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company's stock valued at $806,000 after acquiring an additional 20,051 shares during the last quarter. Atria Investments Inc purchased a new position in Smith Douglas Homes during the third quarter worth about $204,000. BNP Paribas Financial Markets acquired a new stake in Smith Douglas Homes in the third quarter valued at about $591,000. Jane Street Group LLC purchased a new stake in Smith Douglas Homes in the 3rd quarter valued at approximately $530,000. Finally, Daiwa Securities Group Inc. increased its position in Smith Douglas Homes by 31.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company's stock worth $1,114,000 after purchasing an additional 7,015 shares during the period.

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.

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