Express (EXPR) Rating Lowered to Hold at Zacks Investment Research
Express (NYSE:EXPR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Several other equities analysts have also weighed in on the stock. SunTrust Banks decreased their target price on shares of Express to $8.00 and set a “hold” rating on the stock in a report on Wednesday. BMO Capital Markets set a $10.00 target price on shares of Express and gave the company a “hold” rating in a report on Friday, December 1st. B. Riley boosted their target price on shares of Express from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, November 30th. TheStreet upgraded shares of Express from a “d+” rating to a “c-” rating in a report on Thursday, November 16th. Finally, BidaskClub upgraded shares of Express from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.88.
Express (EXPR) traded down $0.23 during trading hours on Wednesday, reaching $7.26. 4,080,000 shares of the company’s stock traded hands, compared to its average volume of 3,704,305. The firm has a market cap of $572.15, a price-to-earnings ratio of 23.42 and a beta of 1.55. Express has a 12 month low of $5.28 and a 12 month high of $11.69.
Express (NYSE:EXPR) last posted 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 company had revenue of $498.70 million for the quarter, compared to analyst estimates of $487.38 million. Express had a net margin of 0.60% and a return on equity of 3.85%. Express’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. analysts forecast that Express will post 0.34 EPS for the current fiscal year.
Express announced that its board has initiated a share repurchase plan on Thursday, November 30th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Several institutional investors have recently added to or reduced their stakes in EXPR. Nomura Holdings Inc. purchased a new stake in shares of Express in the 2nd quarter valued at approximately $33,597,000. Majedie Asset Management Ltd purchased a new stake in shares of Express in the 3rd quarter valued at approximately $11,427,000. Renaissance Technologies LLC raised its stake in shares of Express by 478.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,879,300 shares of the company’s stock valued at $12,685,000 after acquiring an additional 1,554,200 shares during the period. Contrarius Investment Management Ltd purchased a new stake in shares of Express in the 3rd quarter valued at approximately $10,191,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Express in the 3rd quarter valued at approximately $4,414,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.
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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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