Notable Runner: What’s Stein Mart, Inc. Downside After Achieving Yearly Low?

Notable Runner: What's Stein Mart, Inc. Downside After Achieving Yearly Low?

The stock of Stein Mart, Inc. (NASDAQ:SMRT) hit a new 52-week low and has $4.65 target or 8.00% below today’s $5.05 share price. The 5 months bearish chart indicates high risk for the $230.10 million company. The 1-year low was reported on Nov, 29 by Barchart.com. If the $4.65 price target is reached, the company will be worth $18.41 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 246,009 shares traded hands or 2.62% up from the average. Stein Mart, Inc. (NASDAQ:SMRT) has declined 30.20% since April 26, 2016 and is downtrending. It has underperformed by 35.46% the S&P500.

Analysts await Stein Mart, Inc. (NASDAQ:SMRT) to report earnings on March, 9. They expect $0.01 earnings per share, down 94.12% or $0.16 from last year’s $0.17 per share. SMRT’s profit will be $455,644 for 126.25 P/E if the $0.01 EPS becomes a reality. After $-0.24 actual earnings per share reported by Stein Mart, Inc. for the previous quarter, Wall Street now forecasts -104.17% EPS growth.

Stein Mart, Inc. (NASDAQ:SMRT) Ratings Coverage

Out of 4 analysts covering Stein Mart (NASDAQ:SMRT), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Stein Mart has been the topic of 4 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Sidoti downgraded Stein Mart, Inc. (NASDAQ:SMRT) on Thursday, September 29 to “Neutral” rating. The firm has “Accumulate” rating by Johnson Rice given on Friday, November 20. The firm earned “Buy” rating on Wednesday, July 29 by Northcoast. The firm has “Neutral” rating by Northland Capital given on Monday, May 9.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.5 in 2016 Q2. Its up 0.21, from 1.29 in 2016Q1. The ratio increased, as 8 funds sold all Stein Mart, Inc. shares owned while 34 reduced positions. 13 funds bought stakes while 41 increased positions. They now own 27.57 million shares or 18.94% more from 23.18 million shares in 2016Q1.
Moreover, Secor Capital Advsrs Lp has 0.11% invested in Stein Mart, Inc. (NASDAQ:SMRT) for 114,692 shares. The New York-based Pinebridge Investments L P has invested 0% in Stein Mart, Inc. (NASDAQ:SMRT). The Virginia-based London Of Virginia has invested 0% in Stein Mart, Inc. (NASDAQ:SMRT). Cumberland Partners has 15,000 shares for 0.02% of their US portfolio. Tiaa Cref Invest Mgmt Limited Liability Corp accumulated 0% or 105,698 shares. Nationwide Fund last reported 19,861 shares in the company. Parametric Associate accumulated 158,258 shares or 0% of the stock. National Bank & Trust Of America De has invested 0% of its portfolio in Stein Mart, Inc. (NASDAQ:SMRT). State Street Corp has 0% invested in the company for 526,032 shares. Citigroup accumulated 0% or 27,633 shares. Credit Suisse Ag accumulated 0% or 26,045 shares. Bnp Paribas Arbitrage has 9,253 shares for 0% of their US portfolio. New York State Teachers Retirement accumulated 0% or 58,699 shares. D E Shaw & reported 204,501 shares or 0% of all its holdings. Moreover, Schwab Charles Investment Inc has 0% invested in Stein Mart, Inc. (NASDAQ:SMRT) for 97,502 shares.

Insider Transactions: Since June 10, 2016, the stock had 2 buys, and 2 insider sales for $108,599 net activity. WILLIAMS JOHN H JR bought $153,000 worth of Stein Mart, Inc. (NASDAQ:SMRT) on Monday, November 21. 1,700 shares were sold by Kleffner Gregory W, worth $14,451. 10,000 shares were sold by HAWKINS D HUNT, worth $72,280.

More notable recent Stein Mart, Inc. (NASDAQ:SMRT) news were published by: Seekingalpha.com which released: “Stein Mart Senses More Trouble In The Coming Quarters” on November 29, 2016, also Fool.com with their article: “Why Stein Mart, Inc. Stock Plunged Today” published on November 17, 2016, Fool.com published: “Why Stein Mart Inc. Shares Dropped 13% in November” on December 06, 2015. More interesting news about Stein Mart, Inc. (NASDAQ:SMRT) were released by: Nasdaq.com and their article: “What Makes Stein Mart (SMRT) a Strong Sell?” published on November 29, 2016 as well as Seekingalpha.com‘s news article titled: “Stein Mart: That Sinking Feeling” with publication date: October 13, 2016.

SMRT Company Profile

Stein Mart, Inc., incorporated on October 14, 1983, is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store. The Firm offers apparel for women and men, as well as accessories, shoes and home fashions. The Company’s target clients are women over 45 years old. The Firm operates approximately 280 stores in over 30 states and an Internet store. The Company’s stores are located in the Northeast, Midwest, Southeast, Texas and the Southwest. It is concentrated in the Southeast and Texas where over 180 of its stores are located.

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