Zacks Investment Research Lowers Express, Inc. (EXPR) to Sell
Express, Inc. (NYSE:EXPR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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 brokerages have also recently commented on EXPR. Deutsche Bank AG increased their price target on shares of Express from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Wednesday, May 31st. Morgan Stanley increased their price target on shares of Express from $7.50 to $10.50 and gave the company an “equal weight” rating in a research note on Wednesday, June 14th. BidaskClub upgraded shares of Express from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. BMO Capital Markets set a $7.00 price target on shares of Express and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, UBS AG reiterated a “sell” rating and issued a $6.00 price target (down previously from $8.00) on shares of Express in a research note on Friday, June 2nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Express presently has an average rating of “Hold” and an average price target of $9.77.
Express (NYSE EXPR) traded up 19.49% during trading on Wednesday, reaching $6.56. The company’s stock had a trading volume of 18,451,031 shares. Express has a 52 week low of $5.28 and a 52 week high of $14.39. The firm has a 50 day moving average of $6.12 and a 200 day moving average of $8.02. The stock has a market capitalization of $514.60 million, a price-to-earnings ratio of 12.86 and a beta of 1.44.
Express (NYSE:EXPR) last announced its earnings results on Wednesday, August 23rd. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Express had a negative net margin of 0.97% and a negative return on equity of 2.86%. The business had revenue of $478.50 million during the quarter, compared to analysts’ expectations of $474.11 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. Analysts expect that Express will post $0.42 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Express by 51,884.8% in the first quarter. BlackRock Inc. now owns 10,035,668 shares of the company’s stock worth $91,425,000 after buying an additional 10,016,363 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Express during the second quarter valued at approximately $33,597,000. Prudential Financial Inc. raised its position in Express by 612.3% in the second quarter. Prudential Financial Inc. now owns 2,700,171 shares of the company’s stock valued at $39,180,000 after buying an additional 2,321,080 shares in the last quarter. Royce & Associates LP purchased a new position in Express during the first quarter valued at approximately $33,517,000. Finally, Renaissance Technologies LLC raised its position in Express by 478.1% in the second quarter. Renaissance Technologies LLC now owns 1,879,300 shares of the company’s stock valued at $12,685,000 after buying an additional 1,554,200 shares in the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.
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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