Smith Douglas Homes (NYSE:SDHC) Cut to "Neutral" at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Smith Douglas Homes (NYSE:SDHC - Free Report) from an overweight rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have $36.00 target price on the stock, down from their prior target price of $41.00.

A number of other research firms also recently issued reports on SDHC. Wells Fargo & Company increased their price target 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Wedbush reissued a "neutral" rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Finally, Bank of America boosted their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $32.40.

Smith Douglas Homes Price Performance

Smith Douglas Homes stock traded up $0.18 during trading hours on Monday, hitting $33.77. The company had a trading volume of 89,780 shares, compared to its average volume of 133,186. The company has a 50-day moving average price of $35.12 and a two-hundred day moving average price of $31.08. Smith Douglas Homes has a 1 year low of $20.55 and a 1 year high of $39.50.

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.

Institutional Investors Weigh In On Smith Douglas Homes

A number of large investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of Smith Douglas Homes during the 3rd quarter valued at about $34,000. Quantbot Technologies LP boosted 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. RiverPark Advisors LLC acquired a new stake in shares of Smith Douglas Homes during the 2nd quarter worth approximately $120,000. Atria Investments Inc purchased a new position in shares of Smith Douglas Homes during the 3rd quarter valued at approximately $204,000. Finally, XTX Topco Ltd purchased a new stake in 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.