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

Smith Douglas Homes (NYSE:SDHC) had its target price reduced by investment analysts at Wells Fargo & Company from $33.00 to $24.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 3.90% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, 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 note on Thursday, September 19th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Smith Douglas Homes has a consensus rating of “Hold” and a consensus price target of $29.00.

Smith Douglas Homes Trading Up 1.0 %

NYSE:SDHC traded up $0.23 on Monday, hitting $23.10. 7,630 shares of the company’s stock traded hands, compared to its average volume of 109,393. Smith Douglas Homes has a 1 year low of $20.55 and a 1 year high of $39.50. The firm has a 50-day moving average price of $30.36 and a 200-day moving average price of $31.94.

Insiders Place Their Bets

In related news, Director Jeffrey T. Jackson bought 8,605 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of $29.77 per share, with a total value 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 $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Smith Douglas Homes

Large investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new position in shares of Smith Douglas Homes during the third quarter worth approximately $34,000. Quantbot Technologies LP raised 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 valued at $139,000 after purchasing an additional 2,738 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Smith Douglas Homes in the third quarter valued at $204,000. XTX Topco Ltd acquired a new position in shares of Smith Douglas Homes in the third quarter valued at $246,000. Finally, Portside Wealth Group LLC acquired a new position in shares of Smith Douglas Homes in the third quarter valued at $283,000.

Smith Douglas Homes Company Profile

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.