Smith Douglas Homes (NYSE:SDHC) Downgraded to Neutral Rating by 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 report released on Monday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $36.00 price target on the stock, down from their previous price target of $41.00.

Other equities analysts also recently issued research reports about the stock. Bank of America raised their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Wedbush restated a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company raised their target price 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. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Smith Douglas Homes currently has a consensus rating of “Hold” and a consensus target price of $32.40.

Smith Douglas Homes Price Performance

SDHC opened at $33.14 on Monday. The company’s 50 day moving average is $35.06 and its 200 day moving average is $31.10. Smith Douglas Homes has a 12-month low of $20.55 and a 12-month high of $39.50.

Insider Activity

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 price of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the transaction, the director now directly owns 15,748 shares in the company, valued at approximately $468,817.96. This represents a 120.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Smith Douglas Homes

Several institutional investors and hedge funds have recently modified their holdings of SDHC. Teachers Retirement System of The State of Kentucky bought a new stake in Smith Douglas Homes in the first quarter worth $565,000. Federated Hermes Inc. increased its position in Smith Douglas Homes by 5.5% in the second quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock worth $12,328,000 after purchasing an additional 27,300 shares during the last quarter. Vanguard Group Inc. bought a new stake in Smith Douglas Homes in the first quarter worth $13,451,000. Renaissance Technologies LLC increased its position in Smith Douglas Homes by 260.2% in the second 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 last quarter. Finally, Seven Grand Managers LLC boosted its stake in Smith Douglas Homes by 100.0% during the third quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after buying an additional 25,000 shares during the period.

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.