Stein Mart (SMRT) is Downgraded by Sidoti to Neutral

Stein Mart (SMRT) was Downgraded by Sidoti to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Sidoti advised their investors in a research report released on Sep 29, 2016.

On the company’s financial health, Stein Mart reported $0.06 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 19, 2016. Analyst had a consensus of $0.07. The company had revenue of $319.76 million for the quarter, compared to analysts expectations of $326.24 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Stein Mart closed down -0.11 points or -1.43% at $7.59 with 51,694 shares getting traded on Tuesday. Post opening the session at $7.63, the shares hit an intraday low of $7.55 and an intraday high of $7.64 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 13, 2016, D Hunt Hawkins (President and COO) sold 10,000 shares at $7.23 per share price. According to the SEC, on Jan 19, 2016, Jay Stein (CEO) purchased 63,000 shares at $6.39 per share price. On Nov 30, 2015, Mitchell W Legler (director) purchased 10,000 shares at $7.19 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.

Stein Mart

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