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

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

Several other equities research analysts have also recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price target on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Bank of America lifted their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company upped their price objective on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.40.

Smith Douglas Homes Stock Up 2.8 %

Smith Douglas Homes stock opened at $33.67 on Monday. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $39.50. The stock’s 50 day simple moving average is $34.88 and its two-hundred day simple moving average is $31.14.

Insider Buying and Selling

In other news, Director Jeffrey T. Jackson acquired 8,605 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the acquisition, the director now directly owns 15,748 shares in the company, valued at approximately $468,817.96. The trade was a 120.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of Smith Douglas Homes

Several institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in shares of Smith Douglas Homes during the 3rd quarter valued at about $34,000. RiverPark Advisors LLC purchased a new stake in Smith Douglas Homes in the second quarter worth approximately $120,000. Quantbot Technologies LP grew its position in Smith Douglas Homes by 287.0% in 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. Atria Investments Inc purchased a new stake in Smith Douglas Homes during the 3rd quarter valued at $204,000. Finally, XTX Topco Ltd bought a new position in shares of Smith Douglas Homes during the 3rd 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.