Smith Douglas Homes (NYSE:SDHC) Shares Up 3.2% - Still a Buy?

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report)'s share price was up 3.2% during mid-day trading on Thursday . The stock traded as high as $20.78 and last traded at $20.75. Approximately 14,184 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 114,493 shares. The stock had previously closed at $20.10.

Wall Street Analysts Forecast Growth

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

Smith Douglas Homes Stock Performance

The stock has a fifty day simple moving average of $22.71 and a 200 day simple moving average of $29.32. The firm has a market cap of $1.04 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 6.87 and a beta of 1.44.

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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 EPS for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $287.49 million during the quarter, compared to the consensus estimate of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. Research analysts predict that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of large investors have recently added to or reduced their stakes in SDHC. JPMorgan Chase & Co. grew its holdings in shares of Smith Douglas Homes by 1,551.9% in the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company's stock worth $806,000 after acquiring an additional 20,051 shares during the period. Atria Investments Inc purchased a new stake in shares of Smith Douglas Homes during the 3rd quarter valued at about $204,000. BNP Paribas Financial Markets bought a new position in shares of Smith Douglas Homes in the 3rd quarter worth approximately $591,000. Jane Street Group LLC bought a new stake in Smith Douglas Homes during the third quarter valued at approximately $530,000. Finally, Daiwa Securities Group Inc. increased its holdings in Smith Douglas Homes by 31.2% during the third quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company's stock valued at $1,114,000 after buying an additional 7,015 shares during the last quarter.

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.