JPMorgan Chase & Co. Cuts Smith Douglas Homes (NYSE:SDHC) Price Target to $35.00

Smith Douglas Homes (NYSE:SDHC) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $36.00 to $35.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 8.12% from the company’s current price.

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

Smith Douglas Homes Stock Performance

SDHC stock opened at $32.37 on Friday. The firm’s 50-day moving average is $34.00 and its two-hundred day moving average is $31.57. Smith Douglas Homes has a 52 week low of $20.55 and a 52 week high of $39.50.

Insiders Place Their Bets

In other news, Director Jeffrey T. Jackson bought 8,605 shares of the company’s 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 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 filing with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Azzad Asset Management Inc. ADV lifted its holdings in shares of Smith Douglas Homes by 3.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 11,579 shares of the company’s stock valued at $437,000 after purchasing an additional 349 shares in the last quarter. nVerses Capital LLC acquired a new position in Smith Douglas Homes during the third quarter valued at $34,000. Quantbot Technologies LP raised its position in Smith Douglas Homes by 287.0% during the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after buying an additional 2,738 shares during the period. US Bancorp DE boosted its position in Smith Douglas Homes by 68.6% during the 3rd quarter. US Bancorp DE now owns 9,896 shares of the company’s stock worth $374,000 after acquiring an additional 4,027 shares during the period. Finally, RiverPark Advisors LLC acquired a new stake in Smith Douglas Homes during the 2nd 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.