Wells Fargo & Company Lowers Smith Douglas Homes (NYSE:SDHC) Price Target to $21.00

Smith Douglas Homes (NYSE:SDHC) had its price objective dropped by stock analysts at Wells Fargo & Company from $24.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.17% from the company’s previous close.

Several other research analysts also recently issued reports on SDHC. JPMorgan Chase & Co. cut their price target on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Bank of America downgraded shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $33.00 to $22.00 in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.80.

Smith Douglas Homes Stock Down 5.3 %

SDHC stock traded down $1.11 during trading on Thursday, reaching $19.60. 34,458 shares of the company were exchanged, compared to its average volume of 117,864. Smith Douglas Homes has a 52-week low of $19.14 and a 52-week high of $39.50. The stock’s 50 day moving average price is $23.23 and its 200 day moving average price is $30.18.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. The business had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. On average, research analysts expect that Smith Douglas Homes will post 1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Smith Douglas Homes by 1,551.9% during the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock worth $806,000 after buying an additional 20,051 shares in the last quarter. Atria Investments Inc acquired a new stake in Smith Douglas Homes during the third quarter worth approximately $204,000. BNP Paribas Financial Markets acquired a new stake in Smith Douglas Homes during the third quarter worth approximately $591,000. Jane Street Group LLC purchased a new stake in Smith Douglas Homes in the 3rd quarter worth approximately $530,000. Finally, Daiwa Securities Group Inc. raised its holdings in Smith Douglas Homes by 31.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock valued at $1,114,000 after acquiring an additional 7,015 shares during 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.