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

Smith Douglas Homes Corp. (NYSE:SDHC) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $32.20.

SDHC has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective 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. 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 report on Friday, December 13th. 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. Finally, Bank of America lifted their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th.

Smith Douglas Homes Stock Performance

NYSE:SDHC opened at $25.99 on Thursday. Smith Douglas Homes has a 52 week low of $20.55 and a 52 week high of $39.50. The stock’s 50-day moving average price is $32.11 and its 200-day moving average price is $31.89.

Insider Activity

In related news, Director Jeffrey T. Jackson purchased 8,605 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Smith Douglas Homes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thornburg Investment Management Inc. purchased a new position in Smith Douglas Homes during the second quarter worth about $4,975,000. Federated Hermes Inc. increased its holdings in shares of Smith Douglas Homes by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock worth $12,328,000 after buying an additional 27,300 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Smith Douglas Homes by 1.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 450,193 shares of the company’s stock valued at $10,526,000 after buying an additional 8,193 shares during the period. Renaissance Technologies LLC lifted its holdings in Smith Douglas Homes by 260.2% in the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock valued at $783,000 after acquiring an additional 24,200 shares during the last quarter. Finally, Sei Investments Co. grew its position in Smith Douglas Homes by 39.4% in the second quarter. Sei Investments Co. now owns 47,629 shares of the company’s stock worth $1,114,000 after acquiring an additional 13,451 shares during the period.

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.