Smith Douglas Homes (NYSE:SDHC) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Smith Douglas Homes (NYSE:SDHC) from an overweight rating to a neutral rating in a report released on Monday morning, MarketBeat Ratings reports. They currently have $36.00 price objective on the stock, down from their previous price objective of $41.00.

Several other research analysts have also commented on the company. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Bank of America lifted their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Wells Fargo & Company increased their price target 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, Royal Bank of Canada restated a “sector perform” rating and issued 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 has an average rating of “Hold” and an average price target of $32.40.

Smith Douglas Homes Trading Up 2.8 %

Shares of NYSE:SDHC opened at $33.67 on Monday. Smith Douglas Homes has a 12 month low of $20.55 and a 12 month high of $39.50. The company’s fifty day moving average price is $34.78 and its 200 day moving average price is $31.16.

Insider Transactions at Smith Douglas Homes

In other news, Director Jeffrey T. Jackson acquired 8,605 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average cost of $29.77 per share, with a total value 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. This trade represents a 120.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SDHC. nVerses Capital LLC purchased a new position in shares of Smith Douglas Homes during the third quarter valued at approximately $34,000. Quantbot Technologies LP lifted its stake in shares of Smith Douglas Homes by 287.0% during 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 during the period. RiverPark Advisors LLC acquired a new stake in shares of Smith Douglas Homes during the second quarter worth $120,000. Atria Investments Inc purchased a new stake in shares of Smith Douglas Homes in the third quarter valued at $204,000. Finally, XTX Topco Ltd acquired a new position in Smith Douglas Homes in the third quarter valued at $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.