Zacks Investment Research upgraded shares of Express (NYSE:EXPR) from a hold rating to a buy rating in a report published on Monday morning. They currently have $11.00 target price on the stock.
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. “
Other equities research analysts have also issued research reports about the company. TheStreet upgraded Express from a d+ rating to a c- rating in a research report on Thursday, November 16th. BidaskClub upgraded Express from a sell rating to a hold rating in a research report on Wednesday, October 25th. SunTrust Banks reiterated a hold rating and issued a $6.00 price target on shares of Express in a research report on Monday, October 2nd. FBR & Co reiterated a hold rating and issued a $7.00 price target on shares of Express in a research report on Friday, September 29th. Finally, BMO Capital Markets reiterated a hold rating and issued a $7.00 price target on shares of Express in a research report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Express has a consensus rating of Hold and an average price target of $9.13.
Express (EXPR) traded up $0.34 during midday trading on Monday, hitting $10.48. The company’s stock had a trading volume of 4,316,700 shares, compared to its average volume of 2,360,769. Express has a 1 year low of $5.28 and a 1 year high of $12.40. The company has a market cap of $799.05, a price-to-earnings ratio of 32.71 and a beta of 1.55.
Express (NYSE:EXPR) last released its quarterly earnings results on Thursday, November 30th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Express had a return on equity of 3.85% and a net margin of 0.60%. The firm had revenue of $498.70 million for the quarter, compared to analyst estimates of $487.38 million. During the same quarter in the previous year, the company posted $0.15 EPS. The business’s revenue was down 1.5% on a year-over-year basis. equities analysts expect that Express will post 0.47 earnings per share for the current year.
Express announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 30th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. acquired a new position in Express during the 2nd quarter worth approximately $33,597,000. State Street Corp raised its stake in Express by 9.8% during the 2nd quarter. State Street Corp now owns 2,612,290 shares of the company’s stock worth $17,633,000 after buying an additional 233,124 shares during the period. Neuberger Berman Group LLC raised its stake in Express by 51.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,990,319 shares of the company’s stock worth $13,435,000 after buying an additional 673,630 shares during the period. Renaissance Technologies LLC raised its stake in Express by 478.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,879,300 shares of the company’s stock worth $12,685,000 after buying an additional 1,554,200 shares during the period. Finally, Majedie Asset Management Ltd acquired a new position in Express during the 3rd quarter worth approximately $11,427,000. Institutional investors own 98.61% of the company’s stock.
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Express Company Profile
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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