Express Given “Equal Weight” Rating at Morgan Stanley (EXPR)
Express (NASDAQ:EXPR)‘s stock had its “equal weight” rating reiterated by equities researchers at Morgan Stanley in a research report issued on Thursday. They currently have a $15.50 target price on the stock. Morgan Stanley’s price objective indicates a potential downside of 5.78% from the company’s current price.
The analysts wrote, “EXPR same-store sales growth has been decelerating since 2Q13.Today’s news likely indicates the trend has bottomed and is starting to improve.We think this is a sign the worst effects of the difficult retail environment are over for EXPR. Plus, our work suggests the women’s apparel category growth rate gradually improves over the next couple months (please see Category Sales Outlook: Discretionary Segments Lead).”
Shares of Express (NASDAQ:EXPR) opened at 16.45 on Thursday. Express has a 52-week low of $11.80 and a 52-week high of $25.05. The stock has a 50-day moving average of $15.36 and a 200-day moving average of $15.67. The company has a market cap of $1.382 billion and a P/E ratio of 13.88.
Express (NASDAQ:EXPR) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $481.40 million for the quarter, compared to the consensus estimate of $457.10 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts predict that Express will post $0.81 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets raised their price target on shares of Express from $13.00 to $15.00 in a research note on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Mizuho raised their price target on shares of Express from $14.00 to $18.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Express from $20.00 to $21.00 in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $18.40.
Express, Inc (NASDAQ:EXPR) is a specialty apparel and accessory retailer offering both women’s and men’s merchandise.
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