Smith Douglas Homes Corp.’s (NYSE:SDHC) Lock-Up Period Will Expire on July 9th

Smith Douglas Homes’ (NYSE:SDHC) lock-up period is set to expire on Tuesday, July 9th. Smith Douglas Homes had issued 7,692,308 shares in its initial public offering on January 11th. The total size of the offering was $161,538,468 based on an initial share price of $21.00. After the expiration of Smith Douglas Homes’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price target on Smith Douglas Homes from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target (down from $21.00) on shares of Smith Douglas Homes in a research note on Tuesday, May 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, March 21st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.10.

Smith Douglas Homes Price Performance

SDHC opened at $21.45 on Friday. The stock’s fifty day moving average is $25.91. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $32.82.

Smith Douglas Homes (NYSE:SDHC) last released its earnings results on Tuesday, May 14th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $189.21 million during the quarter, compared to analysts’ expectations of $187.43 million. Equities research analysts forecast that Smith Douglas Homes will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of Smith Douglas Homes

A number of hedge funds have recently modified their holdings of SDHC. SYSTM Wealth Solutions LLC purchased a new stake in shares of Smith Douglas Homes during the first quarter worth $76,000. Sandia Investment Management LP purchased a new stake in shares of Smith Douglas Homes during the first quarter worth $178,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Smith Douglas Homes during the first quarter worth $331,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Smith Douglas Homes during the first quarter worth $565,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Smith Douglas Homes during the first quarter worth $688,000.

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.