Smith Douglas Homes (NYSE:SDHC) Reaches New 52-Week Low - Here's What Happened

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $17.72 and last traded at $17.78, with a volume of 69321 shares traded. The stock had previously closed at $19.79.

Wall Street Analysts Forecast Growth

SDHC has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday. Bank of America cut Smith Douglas Homes from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $33.00 to $22.00 in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $24.60.

Smith Douglas Homes Stock Up 0.2 %

The stock has a market cap of $963.08 million, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 6.87 and a beta of 1.31. The firm's 50-day moving average is $20.98 and its two-hundred day moving average is $27.39.

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

Hedge Funds Weigh In On Smith Douglas Homes

A number of institutional investors have recently modified their holdings of SDHC. Geode Capital Management LLC increased its holdings in Smith Douglas Homes by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company's stock valued at $2,310,000 after purchasing an additional 457 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Smith Douglas Homes in the fourth quarter valued at about $27,000. XTX Topco Ltd acquired a new position in Smith Douglas Homes during the third quarter valued at approximately $246,000. Stifel Financial Corp grew its stake in shares of Smith Douglas Homes by 39.0% in the third quarter. Stifel Financial Corp now owns 26,074 shares of the company's stock valued at $985,000 after buying an additional 7,310 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Smith Douglas Homes during the 4th quarter worth about $218,000.

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.