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

Smith-Midland (NASDAQ:SMID) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Smith-Midland Stock Down 0.9%

SMID stock opened at $42.17 on Friday. Smith-Midland has a 12-month low of $25.13 and a 12-month high of $51.96. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 0.09. The company has a market cap of $223.50 million, a price-to-earnings ratio of 18.58 and a beta of 1.66. The company has a 50 day moving average of $35.00 and a two-hundred day moving average of $33.32.

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

Institutional Investors Weigh In On Smith-Midland

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMID. Tower Research Capital LLC TRC increased its stake in shares of Smith-Midland by 495.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company’s stock worth $60,000 after purchasing an additional 1,487 shares during the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of Smith-Midland by 24.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,245,903 shares of the company’s stock worth $75,373,000 after purchasing an additional 433,968 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Smith-Midland during the 2nd quarter worth $370,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Smith-Midland during the 2nd quarter worth $238,000. Finally, DAVENPORT & Co LLC acquired a new position in shares of Smith-Midland during the 2nd quarter worth $211,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

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.