Smith Douglas Homes (NYSE:SDHC) Stock Rating Lowered by JPMorgan Chase & Co.

Smith Douglas Homes (NYSE:SDHC) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $36.00 price objective on the stock, down from their prior price objective of $41.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 9.92% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company lifted their target price 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 reaffirmed a “sector perform” rating and issued a $26.00 target price on shares of Smith Douglas Homes in a report on Thursday, August 15th. Bank of America lifted their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.40.

Smith Douglas Homes Stock Down 1.2 %

Shares of NYSE:SDHC opened at $32.75 on Monday. The firm’s 50-day simple moving average is $34.96 and its 200-day simple moving average is $31.12. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $39.50.

Insider Activity at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 8,605 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the transaction, the director now owns 15,748 shares in the company, valued at approximately $468,817.96. The trade was a 120.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in Smith Douglas Homes during the third quarter worth about $34,000. Quantbot Technologies LP raised its position in shares of Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after buying an additional 2,738 shares during the last quarter. RiverPark Advisors LLC acquired a new position in shares of Smith Douglas Homes in the second quarter valued at approximately $120,000. Atria Investments Inc acquired a new position in shares of Smith Douglas Homes in the third quarter valued at approximately $204,000. Finally, XTX Topco Ltd acquired a new position in shares of Smith Douglas Homes in the third quarter valued at approximately $246,000.

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.