Wells Fargo & Company Issues Pessimistic Forecast for Smith Douglas Homes (NYSE:SDHC) Stock Price

Smith Douglas Homes (NYSE:SDHC - Get Free Report) had its price target cut by stock analysts at Wells Fargo & Company from $33.00 to $24.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 4.67% from the company's previous close.

SDHC has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, December 13th. Bank of America boosted 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. Finally, Wedbush restated a "neutral" rating and issued a $20.00 price target on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $29.00.

Smith Douglas Homes Stock Up 0.3 %

Shares of SDHC traded up $0.06 during mid-day trading on Monday, reaching $22.93. The company had a trading volume of 184,818 shares, compared to its average volume of 135,131. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $39.50. The firm has a fifty day simple moving average of $30.15 and a 200-day simple moving average of $31.94.

Insider Activity at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson bought 8,605 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were bought at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the purchase, the director now owns 15,748 shares of the company's stock, valued at $468,817.96. This represents a 120.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Smith Douglas Homes

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its stake in Smith Douglas Homes by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company's stock valued at $12,328,000 after acquiring an additional 27,300 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Smith Douglas Homes during the third quarter valued at $204,000. Renaissance Technologies LLC raised its stake in shares of Smith Douglas Homes by 260.2% during the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company's stock valued at $783,000 after purchasing an additional 24,200 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Smith Douglas Homes in the third quarter worth about $591,000. Finally, Seven Grand Managers LLC grew its position in Smith Douglas Homes by 100.0% in the 3rd quarter. Seven Grand Managers LLC now owns 50,000 shares of the company's stock valued at $1,889,000 after buying an additional 25,000 shares in the last quarter.

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.