Smith Douglas Homes (NYSE:SDHC) Downgraded to Neutral Rating by JPMorgan Chase & Co.

Smith Douglas Homes (NYSE:SDHC) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. They currently have a $36.00 price target on the stock, down from their previous price target of $41.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 7.17% from the stock’s previous close.

SDHC has been the subject of several other reports. 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. Wells Fargo & Company raised 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 report on Monday, October 7th. Bank of America lifted their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.40.

Smith Douglas Homes Stock Up 6.6 %

Shares of NYSE:SDHC opened at $33.59 on Monday. 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 52 week low of $20.55 and a 52 week high of $39.50.

Insider Activity

In other news, Director Jeffrey T. Jackson bought 8,605 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $29.77 per share, with a total value of $256,170.85. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds have recently bought and sold shares of SDHC. Vanguard Group Inc. bought a new position in shares of Smith Douglas Homes during the first quarter worth approximately $13,451,000. Zimmer Partners LP acquired a new stake in Smith Douglas Homes in the first quarter valued at about $9,652,000. Rokos Capital Management LLP bought a new position in Smith Douglas Homes in the first quarter valued at about $1,786,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Smith Douglas Homes in the first quarter worth about $565,000. Finally, RiverPark Advisors LLC acquired a new stake in Smith Douglas Homes in the second quarter valued at approximately $120,000.

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.