Brokerages Set Smith Douglas Homes Corp. (NYSE:SDHC) Price Target at $31.50

Smith Douglas Homes Corp. (NYSE:SDHC) has received an average rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $31.50.

A number of equities research analysts have commented on SDHC shares. Bank of America raised their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Wells Fargo & Company upped their price objective on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th.

Smith Douglas Homes Stock Performance

Shares of NYSE:SDHC opened at $36.61 on Friday. Smith Douglas Homes has a 52 week low of $20.55 and a 52 week high of $39.50. The firm has a 50 day simple moving average of $36.00 and a 200 day simple moving average of $30.04.

Smith Douglas Homes (NYSE:SDHC) last released its earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $220.90 million during the quarter, compared to analysts’ expectations of $208.02 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, analysts expect that Smith Douglas Homes will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Smith Douglas Homes

Large investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new position in Smith Douglas Homes during the first quarter valued at approximately $14,321,000. Vanguard Group Inc. acquired a new position in shares of Smith Douglas Homes during the 1st quarter worth $13,451,000. Long Pond Capital LP acquired a new position in shares of Smith Douglas Homes during the 1st quarter worth $12,388,000. Zimmer Partners LP bought a new position in shares of Smith Douglas Homes during the 1st quarter valued at $9,652,000. Finally, Thornburg Investment Management Inc. acquired a new stake in shares of Smith Douglas Homes in the 2nd quarter valued at $4,975,000.

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.