Stein Mart (SMRT) was Downgraded by Northcoast to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Northcoast advised their investors in a research report released on May 9, 2016.
On the company’s financial health, Stein Mart reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Mar 10, 2016. Analyst had a consensus of $0.21. The company had revenue of $394.10 million for the quarter, compared to analysts expectations of $399.28 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.
Stein Mart opened for trading at $6.69 and hit $6.79 on the upside on Friday, eventually ending the session at $6.79, with a gain of 1.34% or 0.09 points. The heightened volatility saw the trading volume jump to 2,19,731 shares. Company has a market cap of $315 M.
In a different news, on Jan 19, 2016, Jay Stein (CEO) purchased 63,000 shares at $6.39 per share price. According to the SEC, on Nov 30, 2015, Mitchell W Legler (director) purchased 10,000 shares at $7.19 per share price. On Aug 25, 2015, Mcfarland Linda Farthing (director) sold 12,208 shares at $10.33 per share price, according to the Form-4 filing with the securities and exchange commission.
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. It is focused on 35-65 year old woman customers. As of January 31 2015 it operated 270 stores in 30 states and an Internet store. It stores are located in the Northeast Midwest Southeast Texas and the Southwest. It is concentrated in the Southeast and Texas where 184 of its stores are located. The company’s typical store is approximately 32000 gross square feet with a racetrack design centralized check-out and individual dressing rooms. Its stores offer a range of services such as merchandise locator service a Preferred Customer program co-branded and private label credit card programs and electronic gift cards.