JPMorgan Chase & Co. Has Lowered Expectations for Smith Douglas Homes (NYSE:SDHC) Stock Price

Smith Douglas Homes (NYSE:SDHC) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $36.00 to $35.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 8.12% from the stock’s previous close.

SDHC has been the subject of a number of other research reports. Bank of America lifted their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Wedbush reissued a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Wells Fargo & Company increased their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.20.

Smith Douglas Homes Price Performance

Shares of SDHC opened at $32.37 on Friday. Smith Douglas Homes has a one year low of $20.55 and a one year high of $39.50. The stock has a 50-day moving average price of $34.00 and a 200 day moving average price of $31.57.

Insider Buying and Selling

In related news, Director Jeffrey T. Jackson bought 8,605 shares of the stock in a transaction dated Tuesday, November 19th. The stock was bought at an average cost of $29.77 per share, with a total value of $256,170.85. Following the completion of the acquisition, the director now owns 15,748 shares of the company’s stock, valued at $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC bought a new stake in Smith Douglas Homes in the second quarter valued at $120,000. Thornburg Investment Management Inc. acquired a new stake in shares of Smith Douglas Homes in the 2nd quarter worth about $4,975,000. Federated Hermes Inc. lifted its position in Smith Douglas Homes by 5.5% in the 2nd 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Smith Douglas Homes by 1.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 450,193 shares of the company’s stock valued at $10,526,000 after purchasing an additional 8,193 shares during the period. Finally, Renaissance Technologies LLC grew its position in Smith Douglas Homes by 260.2% in the 2nd 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.

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.