Smith Douglas Homes (NYSE:SDHC) Shares Gap Up - Here's What Happened

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $19.67, but opened at $20.29. Smith Douglas Homes shares last traded at $20.11, with a volume of 20,809 shares changing hands.

Analyst Ratings Changes

SDHC has been the topic of a number of research analyst reports. Bank of America downgraded Smith Douglas Homes from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $33.00 to $22.00 in a research note on Monday, January 27th. Wells Fargo & Company reduced their target price on shares of Smith Douglas Homes from $24.00 to $21.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $24.80.

Smith Douglas Homes Stock Performance

The firm has a market cap of $1.04 billion, a P/E ratio of 11.50, a P/E/G ratio of 6.87 and a beta of 1.44. The firm has a 50 day simple moving average of $22.76 and a 200 day simple moving average of $29.51.

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

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Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Smith Douglas Homes by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company's stock valued at $2,310,000 after buying an additional 457 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Smith Douglas Homes in the 4th quarter valued at about $27,000. Quantbot Technologies LP boosted its position in shares of Smith Douglas Homes by 287.0% during the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company's stock valued at $139,000 after acquiring an additional 2,738 shares during the last quarter. Atria Investments Inc purchased a new position in shares of Smith Douglas Homes during the third quarter worth about $204,000. Finally, XTX Topco Ltd bought a new position in shares of Smith Douglas Homes in the third quarter worth approximately $246,000.

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.