JPMorgan Chase & Co. Downgrades Smith Douglas Homes (NYSE:SDHC) to Neutral

JPMorgan Chase & Co. lowered shares of Smith Douglas Homes (NYSE:SDHC) from an overweight rating to a neutral rating in a report issued on Monday, MarketBeat reports. JPMorgan Chase & Co. currently has $36.00 price target on the stock, down from their prior price target of $41.00.

SDHC has been the topic of a number of other research reports. 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 note on Thursday, August 15th. Bank of America raised 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. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Finally, Wells Fargo & Company raised their price objective on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Smith Douglas Homes presently has an average rating of “Hold” and an average target price of $32.40.

Smith Douglas Homes Trading Up 2.8 %

NYSE SDHC opened at $33.67 on Monday. The stock has a 50-day simple moving average of $34.78 and a two-hundred day simple moving average of $31.16. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $39.50.

Insider Buying and Selling at Smith Douglas Homes

In other news, Director Jeffrey T. Jackson acquired 8,605 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average cost of $29.77 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is available at this link.

Institutional Trading of Smith Douglas Homes

A number of institutional investors and hedge funds have recently bought and sold shares of SDHC. Vanguard Group Inc. acquired a new stake in Smith Douglas Homes during the 1st quarter worth approximately $13,451,000. Zimmer Partners LP purchased a new stake in shares of Smith Douglas Homes during the first quarter worth $9,652,000. Rokos Capital Management LLP purchased a new position in Smith Douglas Homes in the first quarter valued at $1,786,000. Teachers Retirement System of The State of Kentucky acquired a new position in Smith Douglas Homes during the 1st quarter worth $565,000. Finally, RiverPark Advisors LLC purchased a new stake in Smith Douglas Homes during the 2nd quarter worth about $120,000.

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.