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

JPMorgan Chase & Co. cut shares of Smith Douglas Homes (NYSE:SDHC) from an overweight rating to a neutral rating in a research note published on Monday morning, MarketBeat.com reports. The firm currently has $36.00 target price on the stock, down from their previous target price of $41.00.

Several other research firms have also commented on SDHC. Wedbush restated 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 boosted their price target on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Bank of America raised their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Smith Douglas Homes currently has a consensus rating of “Hold” and an average target price of $32.40.

Smith Douglas Homes Stock Performance

Shares of NYSE SDHC opened at $33.67 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 50 day moving average of $34.88 and a 200 day moving average of $31.14.

Insiders Place Their Bets

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

Institutional Trading of Smith Douglas Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new position in Smith Douglas Homes during the first quarter valued at $13,451,000. Zimmer Partners LP purchased a new position in shares of Smith Douglas Homes during the first quarter valued at about $9,652,000. Rokos Capital Management LLP purchased a new position in shares of Smith Douglas Homes during the first quarter valued at about $1,786,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Smith Douglas Homes in the first quarter worth about $565,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Smith Douglas Homes in the second quarter worth about $120,000.

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.