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Johnson Rice downgraded Stein Mart, Inc. (NASDAQ:SMRT) to Hold in a statement released earlier today.

Johnson Rice has downgraded Stein Mart, Inc. (NASDAQ:SMRT) to Hold in a statement released on 09/29/2016.

Only yesterday Stein Mart, Inc. (NASDAQ:SMRT) traded -10.94% lower at $7.54. Stein Mart, Inc.’s 50-day moving average is $8.11 and its two hundred day average is $7.55. The last stock price is down -11.08% relative to the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same period. Volume of trade was up over the average, with 265,008 shares of SMRT changing hands over the typical 109,145

Performance Chart

Stein Mart, Inc. (NASDAQ:SMRT)

Stein Mart, Inc. has P/E ratio of 14.05 with a one year low of $5.61 and a one year high of $9.75 and has a total market value of $0.

A total of 3 brokerages have issued a research note on the stock. 2 brokers rating the stock a strong buy, one equity analyst rating the company a buy, one brokerage rating the company a hold, zero analysts rating the stock a underperform, and finally 0 equity analysts rating the company a sell with a one year target of $9.67.

About Stein Mart, Inc. (NASDAQ:SMRT)

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. Its 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. The Company's 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. The Company's merchants purchase products from approximately 1,200 vendors. It leases all of its store locations, generally for approximately 10 years with options to extend the lease term for over two or five year periods.

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