Zacks Investment Research upgraded shares of Stein Mart Inc. (NASDAQ:SMRT) from a sell rating to a hold rating in a research report report published on Friday morning.

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 raised Stein Mart from a hold rating to a buy rating in a research report on Monday, August 15th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $7.50.

Stein Mart (NASDAQ:SMRT) opened at 7.42 on Friday. The firm has a market capitalization of $348.01 million, a price-to-earnings ratio of 15.52 and a beta of 0.90. The company has a 50-day moving average price of $8.22 and a 200 day moving average price of $7.56. Stein Mart has a 1-year low of $5.61 and a 1-year high of $10.39.

Stein Mart (NASDAQ:SMRT) last posted its quarterly earnings data on Friday, August 19th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. The business earned $319 million during the quarter. Stein Mart had a return on equity of 30.61% and a net margin of 1.63%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. Equities analysts anticipate that Stein Mart will post $0.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, September 27th. Stein Mart’s payout ratio is 63.83%.

A number of large investors have recently added to or reduced their stakes in SMRT. Louisiana State Employees Retirement System increased its stake in Stein Mart by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the company’s stock worth $101,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System increased its stake in Stein Mart by 3.5% in the first quarter. Arizona State Retirement System now owns 14,907 shares of the company’s stock worth $109,000 after buying an additional 500 shares during the last quarter. American International Group Inc. increased its stake in Stein Mart by 3.7% in the second quarter. American International Group Inc. now owns 22,928 shares of the company’s stock worth $177,000 after buying an additional 815 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Stein Mart by 0.5% in the second quarter. Thrivent Financial for Lutherans now owns 231,468 shares of the company’s stock worth $1,787,000 after buying an additional 1,070 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in Stein Mart by 9.9% in the second quarter. BlackRock Advisors LLC now owns 14,019 shares of the company’s stock worth $108,000 after buying an additional 1,260 shares during the last quarter. 50.67% of the stock is currently owned by institutional investors.

Stein Mart Company Profile

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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