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

Smith Douglas Homes (NYSE:SDHC) had its price objective reduced by Wells Fargo & Company from $33.00 to $24.00 in a report issued on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America lifted their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.00.

Smith Douglas Homes Price Performance

Shares of Smith Douglas Homes stock opened at $22.93 on Monday. The business has a 50 day moving average price of $30.15 and a 200-day moving average price of $31.94. Smith Douglas Homes has a 52 week low of $20.55 and a 52 week high of $39.50.

Insiders Place Their Bets

In related news, Director Jeffrey T. Jackson acquired 8,605 shares of Smith Douglas Homes stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average cost 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 $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of Smith Douglas Homes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new position in shares of Smith Douglas Homes in the third quarter valued at about $34,000. Quantbot Technologies LP grew its stake in Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after purchasing an additional 2,738 shares during the period. Atria Investments Inc bought a new position in shares of Smith Douglas Homes in the 3rd quarter worth about $204,000. XTX Topco Ltd bought a new position in shares of Smith Douglas Homes during the third quarter valued at approximately $246,000. Finally, Portside Wealth Group LLC purchased a new position in Smith Douglas Homes during the third quarter valued at $283,000.

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.