Stein Mart (NASDAQ:SMRT) Rating Increased to Hold at ValuEngine

Stein Mart (NASDAQ:SMRT) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

SMRT stock traded down $0.03 during mid-day trading on Wednesday, reaching $0.79. 100,861 shares of the stock traded hands, compared to its average volume of 263,291. The company has a quick ratio of 0.17, a current ratio of 1.14 and a debt-to-equity ratio of 10.45. Stein Mart has a 52 week low of $0.65 and a 52 week high of $2.34. The business has a 50-day moving average of $0.77 and a two-hundred day moving average of $0.86.

Stein Mart (NASDAQ:SMRT) last released its quarterly earnings results on Wednesday, August 21st. The company reported ($0.04) earnings per share (EPS) for the quarter. Stein Mart had a negative net margin of 0.83% and a negative return on equity of 25.51%. The firm had revenue of $296.33 million for the quarter.

Hedge funds have recently added to or reduced their stakes in the business. Augustine Asset Management Inc. bought a new stake in Stein Mart during the second quarter valued at about $62,000. D. E. Shaw & Co. Inc. bought a new stake in Stein Mart during the second quarter valued at about $70,000. Finally, Vanguard Group Inc. boosted its holdings in Stein Mart by 44.4% during the second quarter. Vanguard Group Inc. now owns 976,732 shares of the company’s stock valued at $840,000 after acquiring an additional 300,507 shares during the period. Institutional investors own 7.84% of the company’s stock.

About Stein Mart

Stein Mart, Inc a specialty off-price retailer, offers designer and name-brand fashion apparels, home décor merchandise, accessories, and shoes at everyday discount prices in the Unites States. The company's stores also provide merchandise locator services; a preferred customer program; co-branded and private label credit card programs; and electronic gift cards.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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