JPMorgan Chase & Co. Cuts Smith Douglas Homes (NYSE:SDHC) Price Target to $35.00

Smith Douglas Homes (NYSE:SDHC) had its price objective cut by JPMorgan Chase & Co. from $36.00 to $35.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued reports about the stock. Bank of America raised their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Wells Fargo & Company upped their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and an average price target of $32.20.

Smith Douglas Homes Trading Down 1.9 %

SDHC stock opened at $32.37 on Friday. The business’s 50 day moving average is $34.00 and its 200-day moving average is $31.61. Smith Douglas Homes has a 1-year low of $20.55 and a 1-year high of $39.50.

Insider Activity at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson acquired 8,605 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average price of $29.77 per share, with a total value of $256,170.85. Following the completion of the purchase, the director now owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Smith Douglas Homes

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in shares of Smith Douglas Homes during the third quarter valued at about $34,000. Quantbot Technologies LP grew its holdings in Smith Douglas Homes by 287.0% in the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after acquiring an additional 2,738 shares during the last quarter. RiverPark Advisors LLC purchased a new position in shares of Smith Douglas Homes in the second quarter valued at about $120,000. Atria Investments Inc bought a new position in shares of Smith Douglas Homes during the third quarter valued at about $204,000. Finally, XTX Topco Ltd purchased a new stake in shares of Smith Douglas Homes during the third quarter worth about $246,000.

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.