Smith Douglas Homes (NYSE:SDHC) Stock Rating Lowered by Bank of America

Smith Douglas Homes (NYSE:SDHC) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Monday,Finviz reports. They currently have a $22.00 price target on the stock, down from their prior price target of $33.00. Bank of America‘s price target suggests a potential downside of 9.43% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on SDHC. JPMorgan Chase & Co. decreased their target price on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Wells Fargo & Company reduced their target price on Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Wedbush restated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.40.

Smith Douglas Homes Price Performance

Shares of NYSE:SDHC opened at $24.29 on Monday. The business has a 50-day moving average price of $28.57 and a 200 day moving average price of $32.05. Smith Douglas Homes has a 12-month low of $20.55 and a 12-month high of $39.50.

Insider Buying and Selling at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 8,605 shares of the stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of $29.77 per share, with a total value of $256,170.85. Following the acquisition, the director now owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. The trade was a 120.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On Smith Douglas Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in Smith Douglas Homes in the 3rd quarter valued at about $34,000. Quantbot Technologies LP grew its position 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 in the last quarter. Atria Investments Inc acquired a new position in shares of Smith Douglas Homes during the 3rd quarter worth approximately $204,000. XTX Topco Ltd acquired a new position in shares of Smith Douglas Homes during the 3rd quarter worth approximately $246,000. Finally, Portside Wealth Group LLC acquired a new position in shares of Smith Douglas Homes during the 3rd quarter worth approximately $283,000.

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.