Smith Douglas Homes (NYSE:SDHC) Stock Rating Lowered by JPMorgan Chase & Co.

Smith Douglas Homes (NYSE:SDHC) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Monday, Marketbeat Ratings reports. They currently have a $36.00 price target on the stock, down from their previous price target of $41.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 9.92% from the company’s current price.

A number of other equities research analysts also recently issued reports on SDHC. Bank of America boosted their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Wedbush restated a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 target price on shares of Smith Douglas Homes in a report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.40.

Smith Douglas Homes Stock Performance

Smith Douglas Homes stock opened at $32.75 on Monday. Smith Douglas Homes has a 1 year low of $20.55 and a 1 year high of $39.50. The firm has a 50 day moving average price of $34.96 and a 200 day moving average price of $31.12.

Insiders Place Their Bets

In other news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average cost of $29.77 per share, with a total value of $256,170.85. Following the completion of the transaction, the director now owns 15,748 shares in the company, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SDHC. nVerses Capital LLC acquired a new position in shares of Smith Douglas Homes during the third quarter worth $34,000. RiverPark Advisors LLC acquired a new position in shares of Smith Douglas Homes during the second quarter worth $120,000. Quantbot Technologies LP lifted its position in shares of Smith Douglas Homes by 287.0% during 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 in the last quarter. Atria Investments Inc acquired a new position in shares of Smith Douglas Homes during the third quarter worth $204,000. Finally, XTX Topco Ltd acquired a new position in shares of Smith Douglas Homes during the third quarter worth $246,000.

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.