Brokerages Set Smith Douglas Homes Corp. (NYSE:SDHC) PT at $32.20

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) has been given an average recommendation of "Hold" by the six research firms that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $32.20.

SDHC has been the subject of several recent analyst reports. Wedbush reiterated a "neutral" rating and set a $20.00 price objective on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price objective on 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. 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. Finally, Bank of America lifted their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, September 19th.

Smith Douglas Homes Stock Performance

NYSE:SDHC traded down $0.32 on Thursday, reaching $27.18. 560,549 shares of the stock traded hands, compared to its average volume of 130,779. Smith Douglas Homes has a 1-year low of $20.55 and a 1-year high of $39.50. The company's 50 day moving average is $32.70 and its 200-day moving average is $31.81.

Insiders Place Their Bets

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 8,605 shares of the firm's 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 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds have recently added to or reduced their stakes in SDHC. nVerses Capital LLC bought a new stake in shares of Smith Douglas Homes in the 3rd quarter worth $34,000. Quantbot Technologies LP grew its position in Smith Douglas Homes by 287.0% in the 3rd 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 bought a new stake in Smith Douglas Homes in the 3rd quarter worth about $204,000. XTX Topco Ltd purchased a new stake in Smith Douglas Homes in the 3rd quarter valued at about $246,000. Finally, Portside Wealth Group LLC purchased a new position in shares of Smith Douglas Homes in the 3rd quarter worth approximately $283,000.

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.