Express Shares Up 20.5% After Analyst Upgrade (EXPR)
Shares of Express (NASDAQ:EXPR) rose 20.5% during mid-day trading on Friday after Brean Capital raised their price target on the stock from $16.00 to $20.00, American Banking News reports. Brean Capital currently has a buy rating on the stock. Express traded as high as $16.75 and last traded at $16.33, with a volume of 7,845,637 shares trading hands. The stock had previously closed at $13.55.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Express in a research note on Thursday. They now have a $16.00 price target on the stock, down previously from $17.00. Separately, analysts at FBR Capital Markets cut their price target on shares of Express from $16.00 to $13.00 in a research note on Friday, May 30th. They now have a “market perform” rating on the stock. Finally, analysts at Zacks upgraded shares of Express from an “underperform” rating to a “neutral” rating in a research note on Monday, May 19th. They now have a $15.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Express currently has an average rating of “Buy” and an average target price of $19.10.
The stock has a 50-day moving average of $14.07 and a 200-day moving average of $16.86. The company has a market cap of $1.374 billion and a price-to-earnings ratio of 12.89.
Express (NASDAQ:EXPR) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.14 by $0.08. The company had revenue of $460.70 million for the quarter, compared to the consensus estimate of $464.06 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Analysts expect that Express will post $0.82 EPS for the current fiscal year.
Express, Inc (NASDAQ:EXPR) is a specialty apparel and accessory retailer offering both women’s and men’s merchandise.
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