Wells Fargo & Company Cuts Smith Douglas Homes (NYSE:SDHC) Price Target to $24.00

Smith Douglas Homes (NYSE:SDHC) had its price objective lowered by Wells Fargo & Company from $33.00 to $24.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

SDHC has been the subject of a number of other reports. Bank of America raised their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. dropped their price target on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.00.

Smith Douglas Homes Stock Up 4.3 %

SDHC stock opened at $24.48 on Monday. The business has a fifty day moving average price of $29.72 and a 200 day moving average price of $31.89. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $39.50.

Insider Activity

In other news, Director Jeffrey T. Jackson bought 8,605 shares of the 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 purchase, the director now owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. increased its stake in shares of Smith Douglas Homes by 5.5% in the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock valued at $12,328,000 after buying an additional 27,300 shares during the period. Atria Investments Inc bought a new position in shares of Smith Douglas Homes in the 3rd quarter worth $204,000. Renaissance Technologies LLC boosted its position in shares of Smith Douglas Homes by 260.2% in the 2nd quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $783,000 after purchasing an additional 24,200 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Smith Douglas Homes in the 3rd quarter worth $591,000. Finally, Seven Grand Managers LLC boosted its position in shares of Smith Douglas Homes by 100.0% in the 3rd quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after purchasing an additional 25,000 shares during the last quarter.

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.