Smith Douglas Homes (NYSE:SDHC) Price Target Cut to $15.00 by Analysts at Bank of America

Key Points

• Bank of America has lowered its price target for Smith Douglas Homes from $17.00 to $15.00, indicating a potential downside of 3.64% from the stock's previous close and assigning an "underperform" rating.
• Smith Douglas Homes reported an earnings per share (EPS) of ($0.13), which fell short of analyst expectations by ($0.38), while the company's revenue for the quarter was $223.92 million, exceeding estimates of $216.01 million.
• The stock has seen a recent rating downgrade from multiple analysts, with Weiss Ratings reissuing a "sell" rating and MarketBeat showing an average rating of "Reduce" for the company.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) had its price target lowered by equities researchers at Bank of America from $17.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Bank of America's price objective would indicate a potential downside of 3.64% from the company's previous close.

Several other equities analysts have also recently issued reports on SDHC. Weiss Ratings reissued a "sell (d+)" rating on shares of Smith Douglas Homes in a report on Wednesday. Wall Street Zen downgraded shares of Smith Douglas Homes from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Four research 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, Smith Douglas Homes presently has an average rating of "Reduce" and an average target price of $17.50.

Smith Douglas Homes Stock Down 1.7%

Shares of Smith Douglas Homes stock traded down $0.26 on Friday, reaching $15.57. 19,919 shares of the stock were exchanged, compared to its average volume of 78,877. Smith Douglas Homes has a twelve month low of $15.33 and a twelve month high of $38.06. The firm has a market capitalization of $800.92 million, a price-to-earnings ratio of 9.80, a PEG ratio of 10.78 and a beta of 0.96. The business has a 50 day moving average price of $18.91 and a two-hundred day moving average price of $19.14.

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

Institutional Trading of Smith Douglas Homes

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp increased its holdings in shares of Smith Douglas Homes by 8.4% during the 1st quarter. M&T Bank Corp now owns 11,001 shares of the company's stock worth $215,000 after buying an additional 848 shares during the last quarter. PDT Partners LLC increased its position in shares of Smith Douglas Homes by 10.7% during the first quarter. PDT Partners LLC now owns 13,988 shares of the company's stock valued at $273,000 after acquiring an additional 1,349 shares during the last quarter. First Trust Advisors LP increased its holdings in Smith Douglas Homes by 5.8% in the 2nd quarter. First Trust Advisors LP now owns 29,025 shares of the company's stock valued at $564,000 after purchasing an additional 1,583 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Smith Douglas Homes in the 2nd quarter valued at approximately $34,000. Finally, New York State Common Retirement Fund grew its stake in shares of Smith Douglas Homes by 1.0% in the first quarter. New York State Common Retirement Fund now owns 185,119 shares of the company's stock valued at $3,614,000 after buying an additional 1,744 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.