Smith-Midland (NASDAQ:SMID) Rating Lowered 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 investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Smith-Midland Stock Down 5.7%

SMID stock traded down $2.40 during trading on Friday, hitting $39.60. 23,370 shares of the company's stock were exchanged, compared to its average volume of 9,615. The business has a 50-day moving average price of $35.63 and a two-hundred day moving average price of $33.45. The stock has a market capitalization of $209.88 million, a price-to-earnings ratio of 17.45 and a beta of 1.66. Smith-Midland has a 52-week low of $25.13 and a 52-week high of $51.96. The company has a current ratio of 2.88, a quick ratio of 1.98 and a debt-to-equity ratio of 0.08.

Smith-Midland (NASDAQ:SMID - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.79 earnings per share for the quarter. The firm had revenue of $26.20 million during the quarter. Smith-Midland had a return on equity of 27.32% and a net margin of 13.24%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SMID. JPMorgan Chase & Co. increased 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 worth $878,000 after buying an additional 16,798 shares during the period. Wells Fargo & Company MN increased its position in Smith-Midland by 61.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,235 shares of the company's stock worth $99,000 after buying an additional 851 shares during the period. Marshall Wace LLP acquired a new position in Smith-Midland during the fourth quarter worth approximately $300,000. Dimensional Fund Advisors LP increased 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 worth $1,416,000 after buying an additional 2,252 shares during the period. Finally, Northern Trust Corp increased its position in Smith-Midland by 14.6% during the fourth quarter. Northern Trust Corp now owns 45,103 shares of the company's stock worth $2,005,000 after buying an additional 5,747 shares during the period. Institutional investors and hedge funds own 49.94% of the company's stock.

About Smith-Midland

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.