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

Smith Douglas Homes (NYSE:SDHC - Free Report) had its price target decreased by JPMorgan Chase & Co. from $36.00 to $35.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts also recently weighed in on SDHC. Wedbush reaffirmed a "neutral" rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. 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. Wells Fargo & Company boosted their price objective on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Finally, Bank of America increased 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. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $32.20.

Smith Douglas Homes Stock Down 1.9 %

NYSE:SDHC traded down $0.63 during midday trading on Friday, hitting $32.37. The stock had a trading volume of 108,338 shares, compared to its average volume of 128,843. The stock has a 50-day moving average of $34.09 and a 200 day moving average of $31.52. Smith Douglas Homes has a one year low of $20.55 and a one year high of $39.50.

Insider Transactions at Smith Douglas Homes

In other news, Director Jeffrey T. Jackson acquired 8,605 shares of Smith Douglas Homes stock in a transaction dated Tuesday, November 19th. The stock was purchased 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 directly owns 15,748 shares in the company, valued at $468,817.96. This trade represents a 120.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Smith Douglas Homes

Several large investors have recently made changes to their positions in SDHC. RiverPark Advisors LLC acquired a new stake in shares of Smith Douglas Homes during the 2nd quarter worth approximately $120,000. Thornburg Investment Management Inc. acquired a new position in shares of Smith Douglas Homes in the second quarter worth about $4,975,000. Federated Hermes Inc. boosted its stake in shares of Smith Douglas Homes by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company's stock worth $12,328,000 after acquiring an additional 27,300 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Smith Douglas Homes by 1.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 450,193 shares of the company's stock valued at $10,526,000 after acquiring an additional 8,193 shares during the period. Finally, 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 worth $783,000 after purchasing an additional 24,200 shares during the period.

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.