Zacks Investment Research Lowers Express (EXPR) to Hold
Zacks Investment Research lowered shares of Express (NYSE:EXPR) from a buy rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Express, Inc. is a specialty retailer of women’s and men’s apparel in the United States. The Company operates retail outlets in high-traffic shopping malls, lifestyle centers and street locations across the United States. It also sells its products through its e-commerce website, express.com. Express targets women and men between 20 and 30 years of age. The Company offers its customers an edited assortment of apparel and accessories to address fashion needs across multiple aspects of their lifestyles, including work, casual and going-out occasions. Express, Inc. is headquartered in Columbus, Ohio. “
EXPR has been the subject of a number of other research reports. B. Riley upped their price objective on Express from $7.00 to $9.00 and gave the company a neutral rating in a research note on Thursday, November 30th. BMO Capital Markets restated a hold rating and issued a $7.00 price objective on shares of Express in a research note on Thursday, November 2nd. SunTrust Banks reduced their price objective on Express to $8.00 and set a hold rating for the company in a research note on Wednesday. BidaskClub upgraded Express from a sell rating to a hold rating in a research note on Wednesday, October 25th. Finally, FBR & Co restated a hold rating and issued a $7.00 price objective on shares of Express in a research note on Friday, September 29th. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. The company currently has a consensus rating of Hold and an average target price of $8.88.
Shares of Express (NYSE EXPR) traded down $0.23 during trading hours on Wednesday, reaching $7.26. The company’s stock had a trading volume of 4,080,000 shares, compared to its average volume of 3,704,305. The company has a market cap of $572.15, a P/E ratio of 23.42 and a beta of 1.55. Express has a 52-week low of $5.28 and a 52-week high of $11.69.
Express (NYSE:EXPR) last announced its quarterly earnings data on Thursday, November 30th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $498.70 million during 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 revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. sell-side analysts predict that Express will post 0.34 earnings per share for the current fiscal year.
Express declared that its board has authorized a stock repurchase program on Thursday, November 30th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in shares of Express by 4.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 591,208 shares of the company’s stock worth $3,992,000 after acquiring an additional 25,422 shares during the period. First Eagle Investment Management LLC bought a new position in shares of Express during the 3rd quarter worth $1,055,000. Nomura Holdings Inc. bought a new position in shares of Express during the 2nd quarter worth $33,597,000. California Public Employees Retirement System grew its stake in shares of Express by 13.9% during the 2nd quarter. California Public Employees Retirement System now owns 396,300 shares of the company’s stock worth $2,675,000 after acquiring an additional 48,500 shares during the period. Finally, QS Investors LLC grew its stake in shares of Express by 48.1% during the 2nd quarter. QS Investors LLC now owns 473,086 shares of the company’s stock worth $3,193,000 after acquiring an additional 153,676 shares during the period. Institutional investors own 99.08% of the company’s stock.
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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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