Smith Douglas Homes (NYSE:SDHC) Price Target Lowered to $24.00 at Wells Fargo & Company

Smith Douglas Homes (NYSE:SDHC) had its price target reduced by Wells Fargo & Company from $33.00 to $24.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms also recently weighed in on SDHC. JPMorgan Chase & Co. cut their target price on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Bank of America lifted their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and a consensus price target of $29.00.

Smith Douglas Homes Trading Up 0.3 %

NYSE SDHC opened at $22.93 on Monday. 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 $30.15 and a 200-day moving average price of $31.94.

Insider Buying and Selling at Smith Douglas Homes

In other news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the purchase, the director now directly owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. The trade was a 120.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently bought and sold shares of SDHC. Wasatch Advisors LP purchased a new stake in shares of Smith Douglas Homes in the third quarter worth about $8,104,000. Federated Hermes Inc. lifted its stake 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 buying an additional 27,300 shares in the last quarter. Seven Grand Managers LLC boosted its stake in Smith Douglas Homes by 100.0% during the 3rd quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after purchasing an additional 25,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Smith Douglas Homes by 260.2% in the 2nd quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock valued at $783,000 after acquiring an additional 24,200 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Smith Douglas Homes by 1,551.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock worth $806,000 after acquiring an additional 20,051 shares during the period.

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.