Canaccord Genuity Cuts Stein Mart Price Target to $19.00 (SMRT)
Investment analysts at Canaccord Genuity lowered their price target on shares of Stein Mart (NASDAQ:SMRT) from $20.00 to $19.00 in a note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 39.09% from the company’s current price.
Stein Mart (NASDAQ:SMRT) traded down 5.78% during mid-day trading on Thursday, hitting $12.87. 55,755 shares of the company’s stock traded hands. Stein Mart has a 1-year low of $11.53 and a 1-year high of $16.17. The stock’s 50-day moving average is $13.4 and its 200-day moving average is $13.3. The company has a market cap of $575.6 million and a P/E ratio of 24.75.
Stein Mart (NASDAQ:SMRT) last announced its earnings results on Thursday, August 21st. The company reported $0.08 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.08. The company had revenue of $298.20 million for the quarter, compared to the consensus estimate of $301.53 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that Stein Mart will post $0.70 EPS for the current fiscal year.
Stein Mart, Inc (NASDAQ:SMRT) is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store.
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