Stein Mart Inc. (SMRT) Rating Increased to Hold at Zacks Investment Research
Stein Mart Inc. (NASDAQ:SMRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Stein Mart, Inc. operates retail store chain offering fashionable, current-season, primarily branded merchandise comparable in quality and presentation to that of traditional department and fine specialty stores at prices typically 25% to 60% below those regularly charged by such stores. The company is focused on assorting merchandise that features moderate to designer brand-name apparel for women, men and children, as well as accessories, gifts, linens, shoes and fragrances. “
Separately, TheStreet upgraded Stein Mart from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.50.
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Shares of Stein Mart (NASDAQ:SMRT) opened at 7.61 on Friday. The company has a 50 day moving average price of $8.30 and a 200-day moving average price of $7.55. The stock has a market capitalization of $356.92 million, a P/E ratio of 15.92 and a beta of 0.90. Stein Mart has a 52-week low of $5.61 and a 52-week high of $10.44.
Stein Mart (NASDAQ:SMRT) last released its quarterly earnings data on Friday, August 19th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.01. The company had revenue of $319 million for the quarter. Stein Mart had a net margin of 1.63% and a return on equity of 30.61%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. On average, analysts predict that Stein Mart will post $0.57 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC boosted its stake in Stein Mart by 2.6% in the first quarter. TIAA CREF Investment Management LLC now owns 138,566 shares of the company’s stock worth $1,016,000 after buying an additional 3,465 shares during the period. Prudential Financial Inc. boosted its stake in Stein Mart by 2.7% in the first quarter. Prudential Financial Inc. now owns 68,058 shares of the company’s stock worth $499,000 after buying an additional 1,800 shares during the period. Landscape Capital Management L.L.C. boosted its stake in Stein Mart by 27.7% in the first quarter. Landscape Capital Management L.L.C. now owns 33,760 shares of the company’s stock worth $247,000 after buying an additional 7,313 shares during the period. Royce & Associates LP boosted its stake in Stein Mart by 0.7% in the first quarter. Royce & Associates LP now owns 5,726,822 shares of the company’s stock worth $41,978,000 after buying an additional 37,698 shares during the period. Finally, AXA acquired a new stake in Stein Mart during the first quarter worth approximately $337,000. Institutional investors and hedge funds own 50.72% of the company’s stock.
About Stein Mart
Stein Mart, Inc is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store. The Company offers apparel for women and men, as well as accessories, shoes and home fashions. The Company’s target customers are women over 45 years old. The Company operates approximately 280 stores in over 30 states and an Internet store.
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