Smith Douglas Homes Corp. (NYSE:SDHC) Receives $32.20 Consensus PT from Analysts

Smith Douglas Homes Corp. (NYSE:SDHC) has been assigned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $32.20.

A number of brokerages have issued reports on SDHC. Wells Fargo & Company boosted their target price on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Bank of America lifted their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th.

Smith Douglas Homes Trading Down 2.8 %

Shares of SDHC opened at $25.99 on Thursday. The firm has a 50-day simple moving average of $32.11 and a two-hundred day simple moving average of $31.89. Smith Douglas Homes has a 1-year low of $20.55 and a 1-year high of $39.50.

Insider Buying and Selling

In other Smith Douglas Homes news, Director Jeffrey T. Jackson purchased 8,605 shares of the firm’s stock in a transaction on 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 acquisition, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently made changes to their positions in SDHC. Federated Hermes Inc. lifted its position in Smith Douglas Homes by 5.5% in the second quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock valued at $12,328,000 after acquiring an additional 27,300 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Smith Douglas Homes by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 450,193 shares of the company’s stock worth $10,526,000 after purchasing an additional 8,193 shares in the last quarter. Wasatch Advisors LP purchased a new stake in shares of Smith Douglas Homes in the 3rd quarter valued at about $8,104,000. Thornburg Investment Management Inc. acquired a new stake in shares of Smith Douglas Homes in the 2nd quarter valued at about $4,975,000. Finally, Marshall Wace LLP grew its stake in Smith Douglas Homes by 17.0% during the 2nd quarter. Marshall Wace LLP now owns 89,770 shares of the company’s stock worth $2,099,000 after buying an additional 13,036 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.