Smith Douglas Homes (NYSE:SDHC) Rating Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Smith Douglas Homes (NYSE:SDHC) from an overweight rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have $36.00 target price on the stock, down from their prior target price of $41.00.

A number of other brokerages have also issued reports on SDHC. Bank of America boosted 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. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Wells Fargo & Company upped their price objective on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.40.

Smith Douglas Homes Price Performance

Shares of SDHC opened at $33.14 on Monday. Smith Douglas Homes has a 12-month low of $20.55 and a 12-month high of $39.50. The firm has a fifty day moving average price of $35.06 and a 200-day moving average price of $31.10.

Insiders Place Their Bets

In other news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction on Tuesday, November 19th. The stock was acquired at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the acquisition, the director now owns 15,748 shares of the company’s stock, valued at $468,817.96. This trade represents a 120.47 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Smith Douglas Homes

A number of large investors have recently added to or reduced their stakes in SDHC. Vanguard Group Inc. bought a new position in Smith Douglas Homes in the first quarter worth about $13,451,000. Zimmer Partners LP acquired a new position in shares of Smith Douglas Homes during the first quarter valued at about $9,652,000. Wasatch Advisors LP acquired a new position in shares of Smith Douglas Homes during the third quarter valued at about $8,104,000. Thornburg Investment Management Inc. acquired a new position in shares of Smith Douglas Homes during the second quarter valued at about $4,975,000. Finally, Rokos Capital Management LLP acquired a new position in shares of Smith Douglas Homes during the first quarter valued at about $1,786,000.

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.