Smith Douglas Homes (NYSE:SDHC) Price Target Lowered to $24.00 at Wells Fargo & Company

Smith Douglas Homes (NYSE:SDHC) had its target price cut by equities research analysts at Wells Fargo & Company from $33.00 to $24.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 3.18% from the company’s current price.

SDHC has been the topic of several other reports. Bank of America upped 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 report on Thursday, September 19th. JPMorgan Chase & Co. decreased their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Finally, Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, Smith Douglas Homes presently has a consensus rating of “Hold” and a consensus price target of $29.00.

Smith Douglas Homes Stock Performance

Shares of NYSE SDHC opened at $23.26 on Monday. The firm’s 50-day moving average price is $29.91 and its 200-day moving average price is $31.94. Smith Douglas Homes has a 12-month low of $20.55 and a 12-month high of $39.50.

Insider Transactions at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average cost of $29.77 per share, with a total value of $256,170.85. Following the completion of the transaction, the director now owns 15,748 shares in the company, valued at $468,817.96. The trade was a 120.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On Smith Douglas Homes

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. boosted its stake in shares of Smith Douglas Homes by 5.5% during the second quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock valued at $12,328,000 after purchasing an additional 27,300 shares in the last quarter. Atria Investments Inc bought a new position in shares of Smith Douglas Homes during the third quarter valued at approximately $204,000. Renaissance Technologies LLC boosted its stake in shares of Smith Douglas Homes by 260.2% during the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock valued at $783,000 after purchasing an additional 24,200 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Smith Douglas Homes during the third quarter valued at approximately $591,000. Finally, Seven Grand Managers LLC boosted its stake in shares of Smith Douglas Homes by 100.0% during the third quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock valued at $1,889,000 after purchasing an additional 25,000 shares in the last quarter.

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.