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

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 on Monday,Briefing.com Automated Import reports. They presently have a $36.00 price objective on the stock, down from their prior price objective of $41.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.17% from the stock’s previous close.

Other analysts have also issued reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price target on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Bank of America boosted their price target 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 boosted their target price on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.40.

Smith Douglas Homes Trading Up 6.6 %

Shares of NYSE SDHC opened at $33.59 on Monday. Smith Douglas Homes has a 12-month low of $20.55 and a 12-month high of $39.50. The stock has a 50 day simple moving average of $35.12 and a 200-day simple moving average of $31.08.

Insiders Place Their Bets

In related news, Director Jeffrey T. Jackson acquired 8,605 shares of the stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the purchase, the director now owns 15,748 shares in the company, valued at approximately $468,817.96. The trade was a 120.47 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of Smith Douglas Homes

Several institutional investors have recently bought and sold shares of SDHC. nVerses Capital LLC acquired a new position in Smith Douglas Homes in the third quarter valued at about $34,000. RiverPark Advisors LLC acquired a new stake in Smith Douglas Homes during the 2nd quarter valued at $120,000. Quantbot Technologies LP boosted its stake in Smith Douglas Homes by 287.0% in the third 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 bought a new stake in shares of Smith Douglas Homes during the third quarter worth $204,000. Finally, XTX Topco Ltd acquired a new stake in shares of Smith Douglas Homes in the third quarter valued at $246,000.

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.