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

Key Points

• Smith Douglas Homes Corp. (NYSE:SDHC) hit a new 12-month low of $15.00 during trading, closing at $15.56, amid decreased price targets and downgrades from analysts.
• Wall Street analysts have adjusted their ratings, with Bank of America lowering the target price from $17.00 to $15.00 and others assigning a generally negative outlook.
• The company reported (-$0.13) earnings per share for its last quarter, missing projections by ($0.38), despite revenue exceeding estimates at $223.92 million.

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $15.00 and last traded at $15.56, with a volume of 125182 shares trading hands. The stock had previously closed at $15.44.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SDHC shares. Wall Street Zen lowered Smith Douglas Homes from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Smith Douglas Homes in a research report on Wednesday, October 8th. Finally, Bank of America reduced their target price on Smith Douglas Homes from $17.00 to $15.00 and set an "underperform" rating on the stock in a research report on Friday. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $17.50.

Smith Douglas Homes Price Performance

The business has a fifty day moving average price of $18.75 and a two-hundred day moving average price of $19.06. The firm has a market capitalization of $800.56 million, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 10.14 and a beta of 0.96.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.38). The firm had revenue of $223.92 million during the quarter, compared to analyst estimates of $216.01 million. Smith Douglas Homes had a net margin of 1.43% and a return on equity of 1.74%. On average, research analysts predict that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Institutional Trading of Smith Douglas Homes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp grew its holdings in Smith Douglas Homes by 8.4% during the first quarter. M&T Bank Corp now owns 11,001 shares of the company's stock worth $215,000 after acquiring an additional 848 shares during the period. PDT Partners LLC boosted its position in Smith Douglas Homes by 10.7% during the first quarter. PDT Partners LLC now owns 13,988 shares of the company's stock worth $273,000 after purchasing an additional 1,349 shares in the last quarter. First Trust Advisors LP boosted its position in Smith Douglas Homes by 5.8% during the second quarter. First Trust Advisors LP now owns 29,025 shares of the company's stock worth $564,000 after purchasing an additional 1,583 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Smith Douglas Homes during the second quarter worth approximately $34,000. Finally, New York State Common Retirement Fund boosted its position in Smith Douglas Homes by 1.0% during the first quarter. New York State Common Retirement Fund now owns 185,119 shares of the company's stock worth $3,614,000 after purchasing an additional 1,744 shares in 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.

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