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

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

A number of other research analysts have also issued reports on SDHC. Wells Fargo & Company increased their target price on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Bank of America upped their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Finally, 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. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, Smith Douglas Homes presently has an average rating of “Hold” and an average price target of $32.20.

Smith Douglas Homes Stock Down 1.9 %

NYSE SDHC opened at $32.37 on Friday. Smith Douglas Homes has a twelve month low of $20.55 and a twelve month high of $39.50. The stock has a 50-day moving average of $34.09 and a 200 day moving average of $31.52.

Insider Buying and Selling at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson purchased 8,605 shares of the stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the acquisition, the director now owns 15,748 shares in the company, valued at $468,817.96. This trade represents a 120.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. RiverPark Advisors LLC purchased a new position in shares of Smith Douglas Homes during the 2nd quarter worth approximately $120,000. Thornburg Investment Management Inc. purchased a new position in Smith Douglas Homes during the 2nd quarter valued at about $4,975,000. Federated Hermes Inc. grew its position in Smith Douglas Homes by 5.5% in 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. Massachusetts Financial Services Co. MA grew its position in Smith Douglas Homes by 1.9% in 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 in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Smith Douglas Homes by 260.2% during the second 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.

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.