Smith Douglas Homes Corp. (NYSE:SDHC) Given Average Recommendation of “Hold” by Brokerages

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) have received an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $32.20.

Several analysts have recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut their price target on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Bank of America upped their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company boosted their price target on Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th.

Insider Buying and Selling at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson bought 8,605 shares of the stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the purchase, the director now directly owns 15,748 shares of the company’s stock, valued at $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds have recently bought and sold shares of SDHC. Thornburg Investment Management Inc. acquired a new stake in Smith Douglas Homes during the second quarter valued at $4,975,000. Federated Hermes Inc. grew its position in shares of Smith Douglas Homes by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock valued at $12,328,000 after acquiring an additional 27,300 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Smith Douglas Homes by 1.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 450,193 shares of the company’s stock valued at $10,526,000 after purchasing an additional 8,193 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Smith Douglas Homes by 260.2% in the 2nd quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $783,000 after purchasing an additional 24,200 shares during the period. Finally, Sei Investments Co. boosted its position in Smith Douglas Homes by 39.4% during the second quarter. Sei Investments Co. now owns 47,629 shares of the company’s stock worth $1,114,000 after purchasing an additional 13,451 shares in the last quarter.

Smith Douglas Homes Stock Up 1.5 %

SDHC stock opened at $27.50 on Thursday. Smith Douglas Homes has a 12 month low of $20.55 and a 12 month high of $39.50. The firm’s 50-day moving average is $32.88 and its 200 day moving average is $31.84.

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.