Smith Douglas Homes Corp. (NYSE:SDHC) Given Consensus Rating of “Hold” by Analysts

Smith Douglas Homes Corp. (NYSE:SDHC) has been given an average recommendation of “Hold” by the six brokerages that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $32.40.

SDHC has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded Smith Douglas Homes from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $41.00 to $36.00 in a report on Monday, November 25th. Bank of America lifted their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Wells Fargo & Company upped their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th.

Insider Buying and Selling

In other news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes 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 completion of the transaction, the director now directly owns 15,748 shares in the company, valued at $468,817.96. This trade represents 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 accessible through this hyperlink.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds have recently made changes to their positions in SDHC. nVerses Capital LLC bought a new stake in Smith Douglas Homes in the third quarter valued at about $34,000. Quantbot Technologies LP grew its stake in shares of Smith Douglas Homes by 287.0% in the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after purchasing an additional 2,738 shares during the period. RiverPark Advisors LLC acquired a new position in shares of Smith Douglas Homes in the 2nd quarter worth approximately $120,000. Atria Investments Inc bought a new position in shares of Smith Douglas Homes during the 3rd quarter worth approximately $204,000. Finally, XTX Topco Ltd acquired a new stake in Smith Douglas Homes in the 3rd quarter valued at $246,000.

Smith Douglas Homes Trading Up 0.1 %

SDHC opened at $33.70 on Friday. The stock has a 50-day moving average of $34.70 and a 200-day moving average of $31.21. Smith Douglas Homes has a 52-week low of $20.55 and a 52-week high of $39.50.

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.