Smith Douglas Homes (NYSE:SDHC) Stock Price Down 3.2% - Here's What Happened

Shares of Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) traded down 3.2% on Monday . The company traded as low as $20.03 and last traded at $20.07. 26,122 shares were traded during mid-day trading, a decline of 71% from the average session volume of 89,763 shares. The stock had previously closed at $20.73.

Analysts Set New Price Targets

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

Smith Douglas Homes Stock Down 7.5 %

The firm has a 50-day moving average of $22.43 and a two-hundred day moving average of $29.00. The company has a market capitalization of $971.38 million, a PE ratio of 10.76, a PEG ratio of 6.87 and a beta of 1.44.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last posted its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. The business had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. Equities analysts predict that Smith Douglas Homes Corp. will post 1.73 EPS for the current fiscal year.

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Institutional Trading of Smith Douglas Homes

A number of institutional investors and hedge funds have recently made changes to their positions in SDHC. Geode Capital Management LLC grew its stake in Smith Douglas Homes by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 90,038 shares of the company's stock valued at $2,310,000 after acquiring an additional 457 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Smith Douglas Homes during the fourth quarter valued at $27,000. Quantbot Technologies LP grew its position in shares of Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company's stock valued at $139,000 after purchasing an additional 2,738 shares during the period. XTX Topco Ltd purchased a new stake in shares of Smith Douglas Homes during the third quarter worth about $246,000. Finally, Daiwa Securities Group Inc. raised its position in shares of 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 last quarter.

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.