Smith Douglas Homes (NYSE:SDHC) Hits New 12-Month Low - Here's Why

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $9.75 and last traded at $9.85, with a volume of 10438 shares traded. The stock had previously closed at $9.88.

Analysts Set New Price Targets

Several research firms have recently weighed in on SDHC. Weiss Ratings reiterated a "sell (d+)" rating on shares of Smith Douglas Homes in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Smith Douglas Homes from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $13.90.

Smith Douglas Homes Stock Up 1.0%

The company has a 50 day simple moving average of $11.95 and a 200-day simple moving average of $13.05. The stock has a market capitalization of $507.28 million, a price-to-earnings ratio of 13.86 and a beta of 0.90.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). Smith Douglas Homes had a negative return on equity of 0.19% and a net margin of 0.64%.The company had revenue of $273.03 million for the quarter, compared to analyst estimates of $258.10 million. As a group, sell-side analysts anticipate that Smith Douglas Homes Corp. will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ruane Cunniff & Goldfarb L.P. grew its holdings in Smith Douglas Homes by 18.7% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company's stock worth $185,000 after buying an additional 2,281 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Smith Douglas Homes by 37.1% during the 2nd quarter. Squarepoint Ops LLC now owns 31,818 shares of the company's stock valued at $494,000 after acquiring an additional 8,606 shares in the last quarter. Hsbc Holdings PLC bought a new position in Smith Douglas Homes during the 1st quarter valued at $168,000. Dimensional Fund Advisors LP purchased a new position in Smith Douglas Homes during the 1st quarter worth $324,000. Finally, Conifer Management L.L.C. boosted its holdings in Smith Douglas Homes by 68.3% during the 4th quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company's stock worth $24,037,000 after acquiring an additional 581,794 shares during the last quarter.

About Smith Douglas Homes

Smith Douglas Homes Corp. is a residential homebuilder that designs, constructs and sells single-family homes in selected markets across the southeastern and southern United States. The company focuses primarily on building attainable homes for first-time and move-up buyers.

Its homes are offered in a range of floor plans and configurations, with options intended to address varying household sizes, lifestyles and budgets. In addition to constructing homes, Smith Douglas Homes typically acquires and develops residential lots, manages the homebuilding process and provides customer service to homebuyers.

Founded in 2008, the company has expanded its operations across several markets, including communities in Georgia, Alabama, Tennessee, North Carolina and Texas.

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