Smith Douglas Homes (NYSE:SDHC) Cut to “Underperform” at Bank of America

Bank of America cut shares of Smith Douglas Homes (NYSE:SDHC) from a neutral rating to an underperform rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $22.00 target price on the stock, down from their previous target price of $33.00.

A number of other research analysts have also recently issued reports on SDHC. Wells Fargo & Company reduced their price objective on shares of Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price target 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. Finally, Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and a consensus target price of $25.40.

Smith Douglas Homes Trading Down 2.3 %

Shares of SDHC opened at $24.27 on Monday. The business’s fifty day moving average is $28.35 and its 200 day moving average is $32.14. Smith Douglas Homes has a 12-month low of $20.55 and a 12-month high of $39.50.

Insider Activity at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction dated Tuesday, November 19th. The stock was bought at an average cost of $29.77 per share, with a total value of $256,170.85. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Smith Douglas Homes by 1,551.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock valued at $806,000 after acquiring an additional 20,051 shares during the period. Atria Investments Inc bought a new position in Smith Douglas Homes during the third quarter valued at $204,000. Renaissance Technologies LLC grew its holdings in Smith Douglas Homes by 260.2% during the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock valued at $783,000 after purchasing an additional 24,200 shares during the period. BNP Paribas Financial Markets purchased a new stake in Smith Douglas Homes in the third quarter worth $591,000. Finally, Seven Grand Managers LLC raised its stake in shares of Smith Douglas Homes by 100.0% in the third quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock valued at $1,889,000 after buying an additional 25,000 shares during the period.

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.