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

Smith Douglas Homes (NYSE:SDHC) had its price target decreased by Wells Fargo & Company from $24.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

SDHC has been the subject of several other reports. Bank of America cut shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and cut their target price for the company from $33.00 to $22.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. cut their price objective 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 equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Smith Douglas Homes currently has a consensus rating of “Hold” and an average target price of $24.80.

Smith Douglas Homes Trading Down 7.0 %

Shares of NYSE SDHC opened at $19.26 on Thursday. Smith Douglas Homes has a 52-week low of $19.00 and a 52-week high of $39.50. The firm’s 50 day moving average price is $23.12 and its 200-day moving average price is $30.10.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 earnings per share for the quarter, meeting 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 the consensus estimate of $265.85 million. As a group, research analysts expect that Smith Douglas Homes will post 1.73 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI purchased a new position in shares of Smith Douglas Homes during the 4th quarter worth $27,000. Quantbot Technologies LP boosted its holdings in 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 in the last quarter. Atria Investments Inc purchased a new stake in Smith Douglas Homes in the third quarter valued at $204,000. XTX Topco Ltd purchased a new position in Smith Douglas Homes during the 3rd quarter worth approximately $246,000. Finally, Trexquant Investment LP acquired a new position in shares of Smith Douglas Homes in the 4th quarter valued at $218,000.

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.