JPMorgan Chase & Co. Cuts Smith Douglas Homes (NYSE:SDHC) Price Target to $12.00

Smith Douglas Homes (NYSE:SDHC) had its target price lowered by JPMorgan Chase & Co. from $19.00 to $12.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

SDHC has been the topic of a number of other research reports. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Wells Fargo & Company dropped their price objective on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. Zacks Research lowered Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. UBS Group reiterated a “positive” rating on shares of Smith Douglas Homes in a research report on Monday, December 1st. Finally, BTIG Research assumed coverage on Smith Douglas Homes in a research note on Monday, December 1st. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $14.80.

Smith Douglas Homes Trading Up 2.7%

Shares of NYSE:SDHC opened at $13.44 on Monday. The firm has a 50 day moving average of $17.25 and a 200-day moving average of $17.87. Smith Douglas Homes has a 12 month low of $11.24 and a 12 month high of $23.50. The stock has a market capitalization of $691.49 million, a PE ratio of 11.29 and a beta of 1.04.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, March 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.20). The firm had revenue of $260.43 million for the quarter, compared to analyst estimates of $251.09 million. Smith Douglas Homes had a negative return on equity of 1.03% and a net margin of 1.10%. On average, research analysts predict that Smith Douglas Homes will post 1.73 EPS for the current fiscal year.

Insider Activity at Smith Douglas Homes

In other news, Director George Ervin Perdue III acquired 20,300 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $12.27 per share, with a total value of $249,081.00. Following the acquisition, the director directly owned 60,684 shares in the company, valued at $744,592.68. The trade was a 50.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders acquired 22,000 shares of company stock valued at $268,607. 82.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Smith Douglas Homes

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Smith Douglas Homes during the second quarter valued at about $34,000. Tower Research Capital LLC TRC bought a new stake in shares of Smith Douglas Homes during the second quarter worth about $90,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Smith Douglas Homes in the fourth quarter valued at approximately $182,000. GSA Capital Partners LLP acquired a new position in shares of Smith Douglas Homes in the third quarter valued at approximately $188,000. Finally, AlphaQuest LLC acquired a new position in shares of Smith Douglas Homes in the third quarter valued at approximately $195,000.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.