Zacks Investment Research downgraded shares of Emerald Expositions Events, Inc. (NYSE:EEX) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Emerald Expositions Events, Inc. organizes business to business trade shows. The Company operates live events as well as offers other marketing services, including digital media and print publications. It serves sports, technology, jewelry, construction and other sectors primarily in the United States. Emerald Expositions Events, Inc. is headquartered in San Juan Capistrano, California. “

Several other analysts also recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Emerald Expositions Events from $25.00 to $24.00 and set an outperform rating on the stock in a research report on Tuesday, May 30th. Citigroup Inc. began coverage on shares of Emerald Expositions Events in a research report on Wednesday, May 24th. They issued a buy rating and a $25.00 price objective on the stock. Bank of America Corporation began coverage on shares of Emerald Expositions Events in a research report on Tuesday, May 23rd. They issued a buy rating and a $25.00 price objective on the stock. Credit Suisse Group began coverage on shares of Emerald Expositions Events in a research report on Tuesday, May 23rd. They issued a neutral rating and a $24.00 price objective on the stock. Finally, Deutsche Bank AG began coverage on shares of Emerald Expositions Events in a research report on Tuesday, May 23rd. They issued a buy rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $24.28.

Shares of Emerald Expositions Events (NYSE:EEX) traded up 2.13% during midday trading on Tuesday, hitting $23.00. 170,198 shares of the stock were exchanged. The firm has a 50-day moving average price of $22.13 and a 200-day moving average price of $21.61. The company has a market cap of $1.66 billion and a PE ratio of 66.67. Emerald Expositions Events has a 12-month low of $18.67 and a 12-month high of $25.89.

Emerald Expositions Events (NYSE:EEX) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by $0.15. The firm had revenue of $135.65 million for the quarter, compared to the consensus estimate of $135.72 million. On average, equities analysts predict that Emerald Expositions Events will post $1.07 EPS for the current year.

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In related news, major shareholder Corp Onex sold 7,491,667 shares of Emerald Expositions Events stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $17.00, for a total value of $127,358,339.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kosty Gilis sold 2,155 shares of Emerald Expositions Events stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $17.00, for a total transaction of $36,635.00. The disclosure for this sale can be found here.

A number of hedge funds have recently modified their holdings of the stock. First Manhattan Co. bought a new stake in Emerald Expositions Events during the second quarter worth approximately $2,538,000. State of New Jersey Common Pension Fund D bought a new stake in Emerald Expositions Events during the second quarter worth approximately $2,190,000. Finally, Spark Investment Management LLC bought a new stake in Emerald Expositions Events during the second quarter worth approximately $2,525,000.

About Emerald Expositions Events

Emerald Expositions Events, Inc (Emerald), formerly Expo Event Holdco, Inc, is an operator of business-to-business (B2B) trade shows. The Company operates across multiple sectors, which includes: Gift, Home and General Merchandise; Sports; Design and Construction; Technology; Jewelry; Other Trade Shows; and Other Events.

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Analyst Recommendations for Emerald Expositions Events (NYSE:EEX)

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