JPMorgan Chase & Co. Has Lowered Expectations for Smith Douglas Homes (NYSE:SDHC) Stock Price

Smith Douglas Homes (NYSE:SDHC - Get Free Report) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $24.00 to $18.50 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 4.14% from the stock's previous close.

Several other brokerages also recently commented on SDHC. Wells Fargo & Company cut their price objective on Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada decreased their target price on Smith Douglas Homes from $21.00 to $16.00 and set a "sector perform" rating for the company in a research report on Tuesday. Wedbush restated a "neutral" rating and issued a $18.00 price objective on shares of Smith Douglas Homes in a report on Wednesday, May 14th. Finally, Bank of America downgraded shares of Smith Douglas Homes from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $33.00 to $22.00 in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $18.90.

Smith Douglas Homes Stock Up 4.4%

Shares of NYSE SDHC traded up $0.75 during trading on Wednesday, reaching $17.77. The company had a trading volume of 7,692 shares, compared to its average volume of 99,916. The stock has a market cap of $913.60 million, a PE ratio of 10.32, a P/E/G ratio of 6.87 and a beta of 1.28. The business's 50-day moving average is $19.28 and its 200 day moving average is $24.29. Smith Douglas Homes has a 12-month low of $17.02 and a 12-month high of $39.50.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last announced its earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, meeting analysts' consensus estimates of $0.46. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. The business had revenue of $287.49 million during the quarter, compared to analysts' expectations of $265.85 million. On average, analysts anticipate that Smith Douglas Homes will post 1.73 earnings per share for the current year.

Insider Activity at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson purchased 6,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $18.49 per share, for a total transaction of $110,940.00. Following the completion of the transaction, the director now directly owns 25,682 shares in the company, valued at approximately $474,860.18. The trade was a 30.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 82.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Smith Douglas Homes

Several large investors have recently bought and sold shares of SDHC. Wellington Management Group LLP boosted its stake in shares of Smith Douglas Homes by 32.7% during the first quarter. Wellington Management Group LLP now owns 1,211,274 shares of the company's stock worth $23,644,000 after buying an additional 298,227 shares during the period. Wasatch Advisors LP increased its holdings in shares of Smith Douglas Homes by 438.9% in the fourth quarter. Wasatch Advisors LP now owns 1,156,019 shares of the company's stock valued at $29,640,000 after purchasing an additional 941,511 shares during the period. Beck Mack & Oliver LLC increased its stake in shares of Smith Douglas Homes by 20.2% during the first quarter. Beck Mack & Oliver LLC now owns 840,975 shares of the company's stock worth $16,416,000 after acquiring an additional 141,545 shares during the period. Artisan Partners Limited Partnership raised its position in Smith Douglas Homes by 4.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock worth $20,847,000 after acquiring an additional 35,702 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Smith Douglas Homes by 11.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 486,509 shares of the company's stock valued at $9,497,000 after acquiring an additional 50,713 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.

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