Smith-Midland (NASDAQ:SMID) Cut to Hold at Wall Street Zen

Key Points

• Smith-Midland has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• The company's stock opened at $42.17, with a twelve-month high of $51.96 and a low of $25.13, suggesting considerable volatility in its trading range.
• Smith-Midland reported earnings of $0.79 per share for the last quarter, with a revenue of $26.20 million and a return on equity of 28.42%.

Smith-Midland (NASDAQ:SMID - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Smith-Midland Stock Performance

Shares of NASDAQ SMID traded down $0.9650 during mid-day trading on Friday, hitting $41.5950. 11,084 shares of the company were exchanged, compared to its average volume of 13,121. The stock has a 50 day simple moving average of $35.21 and a 200-day simple moving average of $33.34. The firm has a market cap of $220.45 million, a price-to-earnings ratio of 18.32 and a beta of 1.66. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 0.09. Smith-Midland has a 1-year low of $25.13 and a 1-year high of $51.96.

Smith-Midland (NASDAQ:SMID - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.79 earnings per share for the quarter. Smith-Midland had a return on equity of 28.42% and a net margin of 13.24%.The business had revenue of $26.20 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SMID. Thompson Davis & CO. Inc. boosted its holdings in shares of Smith-Midland by 24.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,245,903 shares of the company's stock valued at $75,373,000 after purchasing an additional 433,968 shares in the last quarter. Needham Investment Management LLC increased its holdings in shares of Smith-Midland by 0.5% in the fourth quarter. Needham Investment Management LLC now owns 211,000 shares of the company's stock worth $9,381,000 after purchasing an additional 1,000 shares during the period. Northern Trust Corp increased its stake in Smith-Midland by 14.6% in the fourth quarter. Northern Trust Corp now owns 45,103 shares of the company's stock valued at $2,005,000 after acquiring an additional 5,747 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Smith-Midland by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 31,864 shares of the company's stock valued at $1,416,000 after buying an additional 2,252 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Smith-Midland by 569.2% during the fourth quarter. JPMorgan Chase & Co. now owns 19,749 shares of the company's stock valued at $878,000 after buying an additional 16,798 shares during the period. 49.94% of the stock is owned by institutional investors and hedge funds.

Smith-Midland Company Profile

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems in the United States. It offers SlenderWall lightweight construction panel, lightweight exterior cladding used for the exterior walls of buildings; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers, used on roadways to separate lanes of traffic in construction work zone or traffic control purposes; Easi-Set precast building and Easi-Span expandable precast buildings, used in housing communications operations, traffic control systems, and mechanical and electrical stations; Easi-Set utility, vaults for house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as custom-built utility vaults for special needs; SoftSound soundwall panels, it absorb highway noise; Beach Prisms erosion control modules for seawalls and jetties; and H2Out secondary drainage systems for panelized exterior cladding.