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

Smith Douglas Homes Corp. (NYSE:SDHC) has been assigned an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have covered the stock in the last year is $32.40.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Bank of America lifted their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, August 15th. JPMorgan Chase & Co. cut shares of Smith Douglas Homes from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $36.00 in a report on Monday, November 25th. Finally, Wedbush restated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Tuesday, November 12th.

Smith Douglas Homes Stock Performance

Shares of NYSE:SDHC opened at $33.70 on Friday. Smith Douglas Homes has a 1-year low of $20.55 and a 1-year high of $39.50. The company has a 50 day moving average price of $34.70 and a 200 day moving average price of $31.21.

Insiders Place Their Bets

In related news, Director Jeffrey T. Jackson bought 8,605 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the transaction, the director now directly owns 15,748 shares in the company, valued at $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds have recently modified their holdings of SDHC. Azzad Asset Management Inc. ADV grew its stake in Smith Douglas Homes by 3.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 11,579 shares of the company’s stock valued at $437,000 after purchasing an additional 349 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Smith Douglas Homes during the 3rd 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 buying an additional 2,738 shares in the last quarter. US Bancorp DE increased its holdings in Smith Douglas Homes by 68.6% in the third quarter. US Bancorp DE now owns 9,896 shares of the company’s stock worth $374,000 after buying an additional 4,027 shares during the last quarter. Finally, RiverPark Advisors LLC bought a new position in Smith Douglas Homes during the second quarter valued at approximately $120,000.

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.