Smith-Midland (NASDAQ:SMID) Upgraded to “Buy” at Wall Street Zen

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

Smith-Midland Stock Performance

Shares of Smith-Midland stock opened at $38.26 on Friday. The firm has a market capitalization of $202.78 million, a P/E ratio of 20.68 and a beta of 1.62. Smith-Midland has a 52 week low of $25.13 and a 52 week high of $51.96. The company has a quick ratio of 1.94, a current ratio of 2.39 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $31.48 and its two-hundred day moving average is $34.11.

Smith-Midland (NASDAQ:SMID) last announced its earnings results on Thursday, July 10th. The company reported $0.62 earnings per share (EPS) for the quarter. The business had revenue of $22.70 million for the quarter. Smith-Midland had a net margin of 9.78% and a return on equity of 19.86%.

Institutional Investors Weigh In On Smith-Midland

Several hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in shares of Smith-Midland by 9.6% during the first quarter. Rhumbline Advisers now owns 4,265 shares of the company’s stock worth $133,000 after purchasing an additional 372 shares during the period. Thompson Davis & CO. Inc. raised its stake in Smith-Midland by 1.5% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,811,935 shares of the company’s stock valued at $56,297,000 after purchasing an additional 27,014 shares during the last quarter. GAMMA Investing LLC raised its stake in Smith-Midland by 39,258.3% in the 1st quarter. GAMMA Investing LLC now owns 4,723 shares of the company’s stock valued at $152,000 after purchasing an additional 4,711 shares during the last quarter. Needham Investment Management LLC raised its stake in Smith-Midland by 0.5% in the 4th quarter. Needham Investment Management LLC now owns 211,000 shares of the company’s stock valued at $9,381,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Smith-Midland by 16,337.9% in the 4th quarter. Lazard Asset Management LLC now owns 10,849 shares of the company’s stock valued at $482,000 after buying an additional 10,783 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.