Smith Douglas Homes (NYSE:SDHC) Rating Lowered to Underperform at Bank of America

Smith Douglas Homes (NYSE:SDHC) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Monday, MarketBeat reports. They currently have a $22.00 price objective on the stock, down from their previous price objective of $33.00. Bank of America‘s target price would indicate a potential downside of 11.52% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their target price on shares of Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.40.

Smith Douglas Homes Stock Performance

Shares of SDHC stock opened at $24.86 on Monday. Smith Douglas Homes has a one year low of $20.55 and a one year high of $39.50. The firm’s 50 day moving average price is $28.46 and its 200-day moving average price is $32.13.

Insider Buying and Selling at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson acquired 8,605 shares of the firm’s stock in a transaction on 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 acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its stake in shares of 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 in the last quarter. Sei Investments Co. raised its holdings in Smith Douglas Homes by 39.4% during the 2nd quarter. Sei Investments Co. now owns 47,629 shares of the company’s stock worth $1,114,000 after buying an additional 13,451 shares during the period. Marshall Wace LLP lifted its position in shares of Smith Douglas Homes by 17.0% in the 2nd quarter. Marshall Wace LLP now owns 89,770 shares of the company’s stock valued at $2,099,000 after acquiring an additional 13,036 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Smith Douglas Homes by 38.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,226 shares of the company’s stock valued at $613,000 after purchasing an additional 7,217 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its stake in Smith Douglas Homes by 3.1% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,579 shares of the company’s stock worth $437,000 after acquiring an additional 349 shares in the last quarter.

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.