California State Teachers Retirement System Has $834,000 Position in Express, Inc. (EXPR)
California State Teachers Retirement System trimmed its stake in shares of Express, Inc. (NYSE:EXPR) by 9.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 123,303 shares of the company’s stock after selling 13,463 shares during the quarter. California State Teachers Retirement System’s holdings in Express were worth $834,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Piedmont Investment Advisors LLC purchased a new position in Express during the second quarter worth approximately $114,000. Public Employees Retirement System of Ohio boosted its position in Express by 29.5% during the second quarter. Public Employees Retirement System of Ohio now owns 20,739 shares of the company’s stock worth $140,000 after purchasing an additional 4,722 shares in the last quarter. Gotham Asset Management LLC purchased a new position in Express during the second quarter worth approximately $148,000. Virtu KCG Holdings LLC purchased a new position in Express during the second quarter worth approximately $177,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in Express by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 29,420 shares of the company’s stock worth $199,000 after purchasing an additional 10,930 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on EXPR. Zacks Investment Research downgraded Express from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research report on Wednesday, January 3rd. B. Riley increased their price target on Express from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, November 30th. BMO Capital Markets reiterated a “hold” rating and set a $7.00 price target on shares of Express in a research report on Thursday, November 2nd. SunTrust Banks lowered their price target on Express to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, January 10th. Finally, BidaskClub upgraded Express from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.88.
Express (NYSE:EXPR) last released its earnings results on Thursday, November 30th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $498.70 million for the quarter, compared to the consensus estimate of $487.38 million. Express had a return on equity of 3.85% and a net margin of 0.60%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. analysts forecast that Express, Inc. will post 0.34 earnings per share for the current fiscal year.
Express declared that its board has authorized a stock repurchase plan on Thursday, November 30th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Express Company Profile
Express, Inc is a specialty apparel and accessories retailer offering both women’s and men’s merchandise. The Company targets women and men between 20 and 30 years old. It offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeanswear and going-out occasions.
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