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

Bank of America downgraded shares of Smith Douglas Homes (NYSE:SDHC) from a neutral rating to an underperform rating in a research report released on Monday, MarketBeat reports. Bank of America currently has $22.00 price target on the stock, down from their prior price target of $33.00.

Several other research analysts have also commented on the company. 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. JPMorgan Chase & Co. cut their price target on shares of 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, Wells Fargo & Company lowered their price objective on shares of Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, Smith Douglas Homes currently has a consensus rating of “Hold” and an average target price of $25.40.

Smith Douglas Homes Price Performance

Shares of NYSE:SDHC opened at $24.27 on Monday. The firm has a fifty day moving average price of $28.35 and a two-hundred day moving average price of $32.14. Smith Douglas Homes has a one year low of $20.55 and a one year high of $39.50.

Insider Buying and Selling at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson acquired 8,605 shares of the stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the transaction, the director now owns 15,748 shares of the company’s stock, valued at $468,817.96. This trade represents a 120.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Azzad Asset Management Inc. ADV grew its holdings 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 worth $437,000 after acquiring an additional 349 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Smith Douglas Homes during the third quarter worth about $34,000. Quantbot Technologies LP grew its stake in shares of Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after purchasing an additional 2,738 shares during the last quarter. US Bancorp DE increased its holdings in Smith Douglas Homes by 68.6% during the 3rd quarter. US Bancorp DE now owns 9,896 shares of the company’s stock valued at $374,000 after purchasing an additional 4,027 shares during the period. Finally, Atria Investments Inc purchased a new position in Smith Douglas Homes during the 3rd quarter valued at about $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.