Smith Douglas Homes Corp. (NYSE:SDHC) Receives $32.20 Consensus Price Target from Brokerages

Smith Douglas Homes Corp. (NYSE:SDHC) has received a consensus recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $32.20.

Several equities analysts have recently weighed in on the stock. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price target on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Bank of America upped their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, 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.

Smith Douglas Homes Stock Down 1.6 %

Shares of NYSE:SDHC opened at $26.74 on Thursday. The company has a 50 day moving average of $32.29 and a two-hundred day moving average of $31.84. Smith Douglas Homes has a 52-week low of $20.55 and a 52-week high of $39.50.

Insider Transactions at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson purchased 8,605 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were bought at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the transaction, the director now directly owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Smith Douglas Homes

Institutional investors and hedge funds have recently bought and sold shares of the business. Azzad Asset Management Inc. ADV raised its position in Smith Douglas Homes by 3.1% in the 3rd 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 during the last quarter. nVerses Capital LLC acquired a new position in shares of Smith Douglas Homes in the 3rd quarter valued at $34,000. Quantbot Technologies LP boosted its holdings in Smith Douglas Homes by 287.0% during the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after buying an additional 2,738 shares during the last quarter. US Bancorp DE boosted its stake in Smith Douglas Homes by 68.6% during the 3rd quarter. US Bancorp DE now owns 9,896 shares of the company’s stock worth $374,000 after acquiring an additional 4,027 shares during the last quarter. Finally, Atria Investments Inc bought a new position in shares of Smith Douglas Homes during the third quarter worth $204,000.

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.